Gateway Know-how Commerce Heart. Picture courtesy of Cushman & Wakefield
Libitzky Property Cos. has bought Gateway Know-how Commerce Heart, a completely occupied, Class A industrial park totaling 138,692 sq. toes in Mesa, Ariz., for $25.4 million. Cushman & Wakefield labored on behalf of the vendor, MIG Actual Property, which had picked up the property in 2021 for $21.4 million.
Constructed in 2019, the two-building industrial campus is situated at 7535 E. Ray Street and provides 24-foot clear heights, ESFR sprinkler techniques, a 180-foot truck courtroom and 291 parking spots, in line with CommercialEdge. The property’s tenant roster has six tenants, together with Soul Quick Electrical Bikes and Lennox.
Located on an almost 10-acre lot within the high-demand Southeast Valley space, Gateway Know-how Commerce Heart is situated between Loop 202 and Phoenix-Mesa Gateway Airport, 28 miles from Phoenix Sky Harbor Worldwide Airport and inside 33 miles of Phoenix.
Cushman & Wakefield Vice Chairman Eric Wichterman, Government Director Steve Lindley, Government Managing Director Alexandra Loye and Managing Director Mike Coover, assisted by the corporate’s Nationwide Industrial Advisory Group’s Government Vice Chairman Will Sturdy and Affiliate Molly Hunt negotiated on behalf of MIG Actual Property.
Earlier this month, Cushman & Wakefield’s Sturdy and Hunt assisted in one other Phoenix industrial transaction. Oxford Properties bought a 249,904-square-foot industrial property in West Valley’s Tolleson, Ariz., for $38.2 million. Earlier in March, Constancy Investments paid $40.2 million for a two-building industrial property in Chandler. Totaling 216,322-square-foot, the Class A asset is absolutely occupied.
