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Phoenix-Area Industrial Portfolio Trades for $74M
Longpoint Partners acquired Midway Commerce Center, a 301,994-square-foot, Class A three-building light industrial portfolio in Chandler, AZ, and a single 68,790-square-foot industrial building in Gilbert, AZ, for a total of $74 million. These acquisitions represent Longpoint’s first entrance into the Greater Phoenix market. Creation Equity was the seller of the Chandler property. Stonelake Capital Partners was the seller of the Gilbert property.
Longpoint’s Dwight Angelini stated, “These well-located properties offer a significant value-add opportunity in a key supply-constrained and high-barrier logistics market.”
Midway Commerce Center is a newly built, shallow bay portfolio in Chandler, AZ, that features 32-foot clear heights, secured truck courts, rear dock high and grade-level loading, LED lighting, 3,000 amps of power and flexible floor plans.
The freestanding industrial property in Gilbert, AZ, located at 1503 West San Pedro Street, features 24-foot clear heights, LED lighting, rear loading, 3,600 amps of power and a rare secured, block-fenced 1.2-acre concrete yard.
- ◦Sale/Acquisition
