Staff Reports | Business & Construction
Cushman & Wakefield’s National Industrial Advisory Group has arranged the $27.6 million sale of Airgate, a 142,735-square-foot industrial building at 7353 E. Ray Road in Mesa.
The property is fully leased to a third-party logistics provider and offers access to major transportation corridors serving the Phoenix metropolitan area.
Will Strong, Michael Matchett, Molly Miller, Jack Stamets and Madeline Warren of Cushman & Wakefield represented both the seller, MIG Real Estate, and the buyer, EastGroup Properties, in the transaction. Ken McQueen and Chris McClurg of Lee & Associates provided leasing advisory services.
“Airgate’s location along Loop 202 positions it at the center of one of Metro Phoenix’s most important industrial growth corridors, providing efficient access throughout the Valley and beyond,” Will Strong of Cushman & Wakefield said. “Opportunities to acquire stabilized, institutional-quality assets in established infill locations remain highly sought after, and this transaction reflects the continued strength of investor demand across the Phoenix industrial market. We’re grateful to have worked alongside both parties to help bring this transaction to a successful close.”
The sale involves a fully leased Class A industrial facility completed in 2022. Airgate was designed to accommodate logistics and distribution users and includes modern building specifications, flexible loading configurations and a fully secured 38,800-square-foot concrete yard, according to a press release.
Found in Mesa, the property is within a submarket that continues to attract corporate investment and industrial development throughout the Phoenix region.
The secured yard provides additional trailer parking and outdoor storage capacity, a feature that is increasingly difficult to find in newer industrial developments.
