{"id":1004723610,"date":"2024-08-01T02:53:20","date_gmt":"2024-08-01T10:53:20","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004723610"},"modified":"2024-08-01T05:49:23","modified_gmt":"2024-08-01T13:49:23","slug":"creation-sells-phoenix-area-campus-for-57m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/creation-sells-phoenix-area-campus-for-57m\/","title":{"rendered":"Creation Sells Phoenix-Area Campus"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"749\" data-attachment-id=\"1004723611\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/creation-sells-phoenix-area-campus-for-57m\/midway-commerce-center_3\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg\" data-orig-size=\"1000,749\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1718434249&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Midway Commerce Center_3\" data-image-description=\"&lt;p&gt;The industrial campus at 1835, 1905 and 1975 S. Hamilton St. in Chandler, Ariz.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Midway Commerce Center features three industrial facilities and came online earlier this year. Image courtesy of Creation&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg\" alt=\"The industrial campus at 1835, 1905 and 1975 S. Hamilton St. in Chandler, Ariz.\" class=\"wp-image-1004723611\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/08\/Midway-Commerce-Center_3.jpg?resize=768,575 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">Midway Commerce Center encompasses three industrial facilities that came online earlier this year.<em> Image courtesy of Creation<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Creation has sold Midway Commerce Center, a 301,994-square-foot industrial campus in Chandler, Ariz., for $57 million. Longpoint Realty Partners bought the three-building property, its first such acquisition in Arizona.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield brokered the deal on behalf of the seller. Lee &amp; Associates provides leasing and marketing services.<\/p>\n\n\n\n<p>The developer completed the Class A campus this year. It funded its construction with three separate loans totaling $34.1 million, originated by Western Alliance Bank in June 2022, according to CommercialEdge information.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-industrial-properties-under-construction-in-phoenix\/\">Top 5 Industrial Properties Under Construction in Phoenix<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-cyan-bluish-gray-color has-alpha-channel-opacity has-cyan-bluish-gray-background-color has-background is-style-wide\"\/>\n\n\n\n<p>Constructed by LGE Design Build, the buildings range from 96,000 to 110,400 square feet and feature 32-foot clear heights. Rentable space is divisible by 30,000 square feet. The campus also has 130- and 185-foot truck courts, 342 parking spaces, 12 drive-in doors and 68 dock-high loading doors.<\/p>\n\n\n\n<p>The buildings are at 1835, 1905 and 1975 S. Hamilton St., less than 2 miles from downtown Chandler and some 26 miles from downtown Phoenix. Phoenix Sky Harbor International Airport is within 20 miles northwest.<\/p>\n\n\n\n<p>Cushman &amp; Wakefield Executive Vice Chair Will Strong and Senior Associate Molly Hunt brokered the sale.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-leads-in-industrial-development\">Phoenix leads in industrial development<\/h2>\n\n\n\n<p>Metro <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial-development-pipeline-slows-down\/\">Phoenix had the largest industrial construction pipeline<\/a> in the U.S. as of June, nearly 39.1 million square feet, according to the latest CommercialEdge report. Phoenix also ranked sixth for sales volume, with more than $1 billion in assets changing hands in the first half of the year. Facilities traded for an average of $165 per square foot, above the $139 national figure.<\/p>\n\n\n\n<p>In June, <a href=\"https:\/\/www.commercialsearch.com\/news\/stonelake-capital-pays-108m-for-phoenix-assets\/\">Stonelake Capital Partners acquired two industrial buildings<\/a> in Goodyear, Ariz., for $108 million. CIM Group sold the assets, which total 726,802 square feet.<\/p>\n\n\n\n<p>Earlier this year, <a href=\"https:\/\/www.commercialsearch.com\/news\/eqt-exeter-pays-60m-for-642-ksf-phoenix-facility\/\">EQT Exeter purchased a 641,906-square-foot facility<\/a> in Buckeye, Ariz., and rebranded it as I-10 Gateway. Developer BET Investments sold the vacant asset for $60.1 million.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This industrial property came online earlier this year.<\/p>\n","protected":false},"author":3355,"featured_media":1004723611,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1601,15],"tags":[51891,32799,32762,51923],"class_list":["post-1004723610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-creation","tag-cushman-wakefield","tag-lee-associates","tag-longpoint"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Creation Sells Phoenix-Area Campus - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Creation sold a three-building park in Chandler, Ariz., for $57 million to Longpoint Realty Partners, in a Cushman &amp; 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