Sales Transactions
1. Machine Investment Group, in partnership with Axonic Capital LLC and Miramar Capital, acquired The Hub @ 202, a 1.3MSF industrial park on 88.5 acres at the NWC of Sossoman and Warner roads in Mesa, for $135M. The seller was Wharton Industrial. The project consists of 10 buildings ranging from 65KSF to 270KSF near Mesa Gateway Airport. Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren represented both parties. Leasing advisors Ken McQueen, Chris McClurg, Blake Peters and Jack Sims of Lee & Associates were also involved. The property is currently 20% occupied by SolarCycle, IES Communications LLC and Powin.
2. First Industrial Realty Trust sold a 100-acre site in Goodyear to Microsoft for $130M. Prior to the sale, Microsoft had leased the land for five years. The site is adjacent to another swath of Microsoft-owned land. Collectively, the two sites total nearly 250 acres.
3. Cohen & Steers Income Opportunities REIT Inc., through a joint venture with Phillips Edison & Company, acquired Oracle Crossings, a 266KSF grocery-anchored retail center in Oro Valley. Town West Realty was the seller. The property is 96% leased and anchored by Sprouts Farmers Market and HomeGoods. Alongside the shopping center at 7607 N. Oracle Road, Cohen & Steers purchased the adjacent O’Reilly Auto Parts/Entrada del Oro Plaza at 7861-7871 N. Oracle Road for a combined $54.35M…