Staff Reports | Digital Free Press
Cushman & Wakefield has advised Lexin Capital, a private investment, development and management company, in the sale of a recently built class A warehouse/distribution building totaling 147,435 square feet on 28.6 acres in Mesa.
Found along Higley Road at 3115 N. Higley Road in Mesa, the logistics building was constructed in 2018 and is fully leased to a Fortune 10 global e-commerce company, according to a press release.
Stockbridge, a private equity real estate investment management firm with offices in San Francisco, Chicago and Atlanta, acquired the single-tenant distribution facility, the release states.
Vice Chairman Will Strong, Senior Director Kirk Kuller, Senior Associate Greer Oliver, and Senior Financial Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
“Fully leased to a renowned high credit tenant, this is a ‘best-in-class’ last-mile logistics building with a critical location in metro Phoenix’s Southeast Valley, a thriving market supported by job and residential growth, top-notch educational institutions, and world-class amenities—a place where people want to live, work and play,” said Mr. Strong in a prepared statement. “Additionally, the property’s strategic location close to multiple major freeways provides great access to take advantage of the region’s deep and skilled labor base.”
Designed as a state-of-the-art delivery station, the class A, tilt-up concrete building features 32-foot clear height, ESFR sprinklers, skylights, R-38 insulation and heavy power (3,600 amps at 277/480 volts). In addition, the property has a 135-foot fully secured, 100% concrete truck court and ample parking.
“Users have especially taken advantage of the new product in the development pipeline in Phoenix, as owners continue to offer attractive space solutions to contend for requirements, Mr. Kuller said. “Growing demand for e-commerce and strong consumer spending will contribute to the stable demand in the warehouse and distribution sector in the Phoenix market. Occupancy continues to outpace new construction.”
The property is a part of the southeast industrial submarket and in a central industrial hub with immediate access to Loop 202. The location is less than 20 miles to both Phoenix Sky Harbor International Airport and Phoenix-Mesa Gateway Airport.