Cushman & Wakefield advised Lexin Capital, a private investment, development and management company, on Monday in the dispositional sale of a recently built Class A warehouse/distribution building totaling 147,435 square feet on 29 acres in Mesa.
Located at 3115 N. Higley Road, the logistics building was constructed in 2018 and is fully leased to a Fortune 10 global e-commerce company.
Stockbridge, a private equity real estate investment management firm with offices in San Francisco, Chicago and Atlanta, acquired the single-tenant distribution facility.
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 Strong.
“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 last mile 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 fully secured, 100% concrete truck court and ample parking spaces.
The property is located in 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, and also provides access to all points in the metropolitan Phoenix area and the greater California region via the I-10 Freeway and Loop 101.