{"id":1004813745,"date":"2026-09-30T05:47:22","date_gmt":"2026-09-30T13:47:22","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004813745"},"modified":"2026-09-30T05:47:24","modified_gmt":"2026-09-30T13:47:24","slug":"exclusive-phoenix-industrial-asset-lands-68m","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/exclusive-phoenix-industrial-asset-lands-68m\/","title":{"rendered":"Exclusive: Phoenix Industrial Asset Lands $68M"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6abd2bcbdbdd2&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1452\" height=\"1089\" data-attachment-id=\"1004813747\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/exclusive-phoenix-industrial-asset-lands-68m\/palm-gateway-logipropco-refi\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg\" data-orig-size=\"1452,1089\" 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;0&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;0&quot;}\" data-image-title=\"Palm-Gateway-LogiPropCo-Refi\" data-image-description=\"&lt;p&gt;Image obtained from an earlier LogiPropCo press release: https:\/\/logisticspropco.com\/2025\/04\/logistics-property-company-leases-289k-sf-at-palm-gateway-logistics-center\/&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Palm Gateway Logistics Center came online in 2024, marking Logistics Property Co.\u2019s first metro Phoenix development. Image courtesy of Logistics Property Co.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg\" alt=\"Exterior shot featuring the Palm Gateway Logistics Center in Mesa, Ariz.\" class=\"wp-image-1004813747\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg 1452w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2026\/09\/Palm-Gateway-LogiPropCo-Refi.jpg?resize=1024,768 1024w\" sizes=\"auto, (max-width: 1452px) 100vw, 1452px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Palm Gateway Logistics Center came online in 2024, marking Logistics Property Co.\u2019s first metro Phoenix development. <em>Image courtesy of Logistics Property Co.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Logistics Property Co. has obtained a $68.3 million refinancing loan for Palm Gateway Logistics Center, a 614,544-square-foot industrial park in Mesa, Ariz., according to Yardi Matrix data.<\/p>\n\n\n\n<p>Pacific Coast Capital Partners provided the debt, which retires a previous $62.9 million construction loan issued by Old National Bank in December 2022. LogiPropCo <a href=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-co-breaks-ground-on-its-1st-phoenix-project\/?utm_source=chatgpt.com\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-co-breaks-ground-on-its-1st-phoenix-project\/?utm_source=chatgpt.com\">broke ground one month later<\/a>, marking its first Phoenix project. The LEED-Silver park came online in 2024.<\/p>\n\n\n\n<p>Palm Gateway Logistics Center was a speculative project, part of Venture II, a $1.8 billion develop-to-core fund. The campus was 52.4 percent leased as of March 2026, with the tenant roster including Hims, a telehealth company that set up shop at the property and leased 289,462 square feet through 2036, according to an SEC lease agreement.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-commercial-mortgage-lenders-and-brokerage-firms\/\">Largest Commercial Mortgage Lenders<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>The park consists of four buildings ranging from 92,847 square feet to 289,203 square feet. Each warehouse features four drive-in doors, while dock doors range between 26 and 56 and clear heights vary from 28 to 36 feet. \u00a0<\/p>\n\n\n\n<p>Located at 8130 E. Pecos Road, Palm Gateway Logistics Center is next to Mesa Gateway Airport, less than 5 miles from Loop 202. Logistics Property Co.\u2019s park is near Greystar\u2019s Gateway Grand, a 2.1 million-square-foot campus consisting of three warehouses.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-logipropco-ramps-up-phoenix-industrial-refinancings\">LogiPropCo ramps up Phoenix industrial refinancings<\/h2>\n\n\n\n<p>Chicago-based Logistics Property Co. owned or had under development some 30 million square feet of logistics facilities throughout 14 markets as of September 2026. Year-to-date through August, the firm closed on $277 million in loans.<\/p>\n\n\n\n<p>Among the company\u2019s notes was the $83.8 million financing issued by Old National Bank and Associated Bank for Olive Logistics Center, a 1 million-square-foot, two-warehouse park in Glendale, Ariz., that Logistics Property Co. <a href=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-leases-1msf-phoenix-campus\/\" data-type=\"link\" data-id=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-leases-1msf-phoenix-campus\/\">fully leased earlier this year<\/a>. Previous construction debt consisted of a $74.5 million package issued by JP Morgan.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This loan retires the new facility&#8217;s construction financing. <\/p>\n","protected":false},"author":3471,"featured_media":1004813747,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,1601,15],"tags":[32779,42788,39105],"class_list":["post-1004813745","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-phoenix","category-west","tag-leed","tag-logistics-property-company","tag-pacific-coast-capital-partners"],"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>Exclusive: Phoenix Industrial Asset Lands $68M - 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