Logistics Property Company Snags $68.3M Refi on 614K-SF Mesa Warehouse Facility

Logistics Property Company obtained a $68.3 million senior loan to refinance Palm Gateway Logistics Center. PCCP provided the loan for the newly developed 614,800-square-foot, four-building Class A industrial park located at the northeast corner of Sossaman and Pecos Road in Mesa, Arizona.  

The park is currently 61% leased. The remaining available space offers flexibility to accommodate a broad range of industrial users, including advanced manufacturing, logistics, and distribution tenants.

Located in Phoenix’s Southeast Valley, less than two miles from Phoenix-Mesa Gateway Airport and within three miles of Loop 202, the property provides efficient distribution access throughout the greater Phoenix MSA and connectivity to major markets across the Southwest U.S. The Southeast Valley has attracted multibillion-dollar investments from Apple, Meta, Google, and LG Energy Solution.

Industrial fundamentals across the Southeast Valley continue to improve following a period of elevated construction activity. The 106-million-square-foot submarket has recorded 2.0 million square feet of year-to-date net absorption, exceeding year-to-date deliveries by 8.2x.