SVN Desert Commercial Advisors recently completed the sale of an approximately 101-acre industrial site at the northwest corner of Sossaman and Warner roads in Mesa.

The property was acquired from the Morrison Family for $27.5 million by an entity controlled by Wharton Industrial, a New York based real estate investment and development firm and Madison Ventures Plus, a Colorado based private equity group, according to a release.

Wharton Industrial plans to develop The HUB @ 202, a master planned 1.5 million square foot industrial park spanning 11 buildings ranging in size from 50,000 square feet to 275,000 square feet. Construction is anticipated to commence in the second quarter of 2022. The project was designed by Ware Malcomb with the modern industrial tenant in mind featuring a variety of clear heights, tenant divisibility, bay sizes, with ample truck and car parking, the release states.

Financing for the project was provided by MSD Partners LP, which was formed in 2009 by the partners of MSD Capital LP, the family investment office for Michael Dell, the founder and CEO of Dell Technologies. This acquisition marks the first project for Wharton Industrial in the Arizona Market.

Dylan Sproul and Paul Borgesen of SVN Desert Commercial Advisors negotiated the transaction on behalf of the buyer.

“Very pleased with the execution by all parties in this transaction. It is great to see the continued demand for industrial investment opportunities by out of state investors,” Sproul said in the release.

SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, industrial, retail, office, medical/dental, restaurant, and land/development. Go to SVNDesertCommercial.com.