Connect News Commercial Real Estate news for every market and every facet, every day.
Connect CRE Events Live and virtual events bringing together the best of information and networking.
CRE Industry Events Live industry events.
Connect Creative A full service marketing and PR agency.
Connect Classroom Offering CRE focused continuing education courses on demand.
ApartmentBuildings.com Is a dynamic platform to search for, list and promote multifamily listings nationwide.
Connect Awards View the A-list of commercial real estate & submit nominations.
Connect Media Kit Advertise, Promote, Attend, Create – Work with Connect.
Loantuitive Find the right lender for your loan.
About Connect Meet the team behind the machine and taste a little of the secret sauce.
Connect News

Your source for daily news covering CRE transactions and trends. Stay informed on national, regional and property sector news that matters to your business.

Connect Classroom

Offering on-demand online courses that provide continuing education credits for brokers, attorneys, appraisers and architects. Select from easily accessible video and written courses that cover a variety of CRE topics.

Find Your Course
High-rise commercial buildings

STAY INFORMED

News when you need it. All our Breaking News, right to your inbox.

Sub Markets

Property Sectors

Topics

Phoenix & Southwest CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Phoenix & Southwest  + Phoenix  + Industrial  |  May 19, 2026
Belkorp
Mike Boyd
By: Mike Boyd

Belkorp Spends $44.1M on Phoenix Warehouse

Belkorp recently paid $44.1 million for a 174,000-square-foot manufacturing facility within the Sky Harbor Airport submarket. The building located at 3809 E. Watkins St. was owned by LBA Realty through a fund.

Cushman & Wakefield’s Will Strong, Phil Haenel, Foster Bundy, Molly Miller, Jack Stamets, Michael Matchett, and Madeline Warren represented both the buyer and seller.

“Opportunities to acquire assets of this caliber are extremely limited,” said Bundy. “The combination of long-term tenancy with a Fortune 2 company, substantial tenant capital investment, and significant available power made this a highly compelling opportunity.”

The institutional-quality asset features 8,000 amps of power. It’s fully leased to AZ Pharmacy (PillPack), a subsidiary of Amazon, with the lease backed by a corporate guarantee from Amazon.com.

Positioned near Interstates 10 and 17, Loop 202, and Phoenix Sky Harbor International Airport, 3809 E. Watkins St. offers exceptional regional connectivity.

Connect

Inside The Story

Belkorp

About Mike Boyd

Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
Order Reprints
  • ◦Sale/Acquisition