Investment firm purchases Mesa manufacturing property for $9.5M
Posted 2/26/21
Industrial property at 7447 E. Ray Road in Mesa has been sold to an affiliate of Boston-based real estate investment firm STAG Industrial Inc. for $9.5 million.
You must be a member to read this story.
Join our family of readers for as little as $5 per month and support local, unbiased journalism.
Current print subscribers can create a free account by clicking here
Otherwise, follow the link below to join.
To Our Valued Readers –
Visitors to our website will be limited to five stories per month unless they opt to subscribe. The five stories do not include our exclusive content written by our journalists.
For $6.99, less than 20 cents a day, digital subscribers will receive unlimited access to YourValley.net, including exclusive content from our newsroom and access to our Daily Independent e-edition.
Our commitment to balanced, fair reporting and local coverage provides insight and perspective not found anywhere else.
Your financial commitment will help to preserve the kind of honest journalism produced by our reporters and editors. We trust you agree that independent journalism is an essential component of our democracy. Please click here to subscribe.
Need to set up your free e-Newspaper all-access account? click here.
Non-subscribers
Click here to see your options for becoming a subscriber.
Register to comment
Click here create a free account for posting comments.
Note that free accounts do not include access to premium content on this site.
I am anchor
business
Investment firm purchases Mesa manufacturing property for $9.5M
Posted
Industrial property at 7447 E. Ray Road in Mesa has been sold to an affiliate of Boston-based real estate investment firm STAG Industrial Inc. for $9.5 million.
Jackie Orcutt, John Grady and Jonathan Teeter of CBRE represented STAG in the transaction, according to a release.
The seller, Gateway Properties of Arizona, was represented by Ken McQueen and Chris McClurg of Lee & Associates.
The 71,030-square-foot property was constructed in 2018. A single-tenant building is on a 5.22-acre lot and features 24-foot clear height, six dock-high doors and six grade-level doors. The site is adjacent to Loop 202.
During escrow, CBRE assisted in preleasing the property to Bass Cabinets, a cabinet manufacturing and installation company with roots in Arizona and a national presence. Bass will take occupancy this year.
“The Phoenix-Mesa Gateway industrial submarket has seen extremely significant investment activity in the past year,” Ms. Orcutt said in the release. “With the fastest-growing housing community in the greater area, we expect to see continued growth moving forward.”
