{"id":1004503915,"date":"2021-01-13T12:15:05","date_gmt":"2021-01-13T20:15:05","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004503915"},"modified":"2021-01-13T12:15:05","modified_gmt":"2021-01-13T20:15:05","slug":"suncap-property-group-sells-arizona-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/suncap-property-group-sells-arizona-industrial-asset\/","title":{"rendered":"SunCap Property Group Sells Arizona Industrial Asset"},"content":{"rendered":"
\"196<\/a>

196 S. McQueen Road. Image courtesy of Cushman & Wakefield<\/em><\/p><\/div>\n

SunCap Property Group has sold a 135,745-square-foot light industrial building forming part of its 63-acre Gilbert Spectrum Business Park in Gilbert, Ariz. Boston-based GID Industrial paid $23.2 million for the Class A asset which was fully leased at the time of close. Cushman & Wakefield negotiated on behalf of the seller.<\/p>\n

SunCap developed the facility<\/a> on nearly 9 acres at 196 S. McQueen Road as the first building of the Spectrum industrial campus, financing the construction with a $9.7 million loan from Delaware Life Insurance Co., according to CommercialEdge. Completed in 2019, the one-story property features a 32-foot clear height and 40 dock doors.<\/p>\n

The facility is less than 3 miles southwest of downtown Gilbert within Phoenix\u2019s Southeast Valley submarket and less than 4 miles from a 109,510-square-foot property Dalfen Industrial acquired in December<\/a>. The location provides easy access to Loop 101 and U.S. Route 60.<\/p>\n

Cushman & Wakefield Executive Managing Director Will Strong, Associate Greer Oliver and Analyst Connor Nebeker-Hay assisted SunCap in the disposition. Lee & Associates Principals Chris McClurg and Ken McQueen provided leasing advisory.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company developed the 135,745-square-foot property as the first building of its Gilbert Spectrum Business Park.<\/p>\n","protected":false},"author":870,"featured_media":1004503921,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1601,15],"tags":[42203,32799,32762,36576],"class_list":["post-1004503915","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-chris-mcclurg","tag-cushman-wakefield","tag-lee-associates","tag-suncap-property-group"],"acf":[],"yoast_head":"\nSunCap Property Group Sells Arizona Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/suncap-property-group-sells-arizona-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SunCap Property Group Sells Arizona Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"The company developed the 135,745-square-foot property as the first building of its Gilbert Spectrum Business Park.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/suncap-property-group-sells-arizona-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-01-13T20:15:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/01\/196-S.-McQueen-Road-e1610541698962.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"979\" \/>\n\t<meta property=\"og:image:height\" content=\"734\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Adriana Marinescu\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/suncap-property-group-sells-arizona-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/suncap-property-group-sells-arizona-industrial-asset\/\",\"name\":\"SunCap Property Group Sells Arizona Industrial Asset - 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