Capital Partners Snags Warehouse in PHX-Area Opportunity Zone

Capital Hall Partners acquired a 1960s vacant warehouse in Tempe, AZ. The Southern California buyer shook hands with a local seller, University Realty LLC, to acquire the 50,366-square-foot property, which is in an Opportunity Zone. The new owner plans to redevelop the asset as a creative office, calling it “the hub.”

Situated on 4.3 acres at 2626 S. Hardy Dr., the property will undergo an entire interior and exterior redesign. Michael Bronska with Capital Hall Partners indicated the company had been looking for an Opportunity Zone project with “high value-add potential, excellent market fundamentals, and surrounded by a thriving community.”

Kennedy Design Build will be the general contractor on the project, and Gensler the architect of record. Chris Janz, Scott Isackson and Mike Beall with Cushman & Wakefield will handle the leasing.

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