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Mesa-Based Warehouse Structure Sells for $130M
The third-largest city in Arizona, Mesa is adding to its industrial real estate clout with a recent sale of a new, seven-building warehouse being sold for $130 million.
The property, near the Phoenix-Mesa Gateway Airport, is known as Landing 3 and totals 525,342 square feet. Landing 3 is part of the bigger Landing at PMG project, according to a news release. A partnership between Cohen Asset Mgmt. and ASB Real Estate owns the larger, multiphase project.
As for ingress and egress at the nearby airport, Phoenix-Mesa Gateway is expecting a boom of travel and freight, according to its website:
In 2016, Gateway Airport served 1.3 million passengers. By 2030, the Airport is projected to serve 10 million passengers annually.
The seller is a joint venture of New York’s Dune Real Estate Partners and Scottsdale-based Martens Development.
On behalf of the seller, the team at Cushman & Wakefield included Will Strong, Greer Oliver, Connor Nebeker-Hay, Adam Spies and Marcella Fasulow. Rob Rubano and Brian Share of Cushman & Wakefield’s Equity, Debt & Structured Finance aided the buyers.
- ◦Sale/Acquisition
