January 17, 2022
100-Acre Industrial Development Site in Mesa Sells For $27.5M
PHOENIX, December, 2021 – SVN Desert Commercial Advisors completed the sale of an approximately 101-acre industrial site in Mesa at the northwest corner of Sossaman Rd and Warner Rd. The property was acquired from the Morrison Family, for $27,500,000 by an entity controlled by Wharton Industrial (https://whartonequity.com/), a New York based real estate investment and development firm and Madison Ventures Plus (https://madisonventuresplus.com/), a Colorado based private equity group.
Wharton Industrial plans to develop The HUB @ 202, a master planned 1.5 million square foot industrial park spanning 11 buildings ranging in size from 50k SF to 275k SF. Construction is anticipated to commence in Q2 2022. The project was designed by Ware Malcomb with the modern industrial tenant in mind featuring a variety of clear heights, tenant divisibility, bay sizes, with ample truck and car parking.
Financing for the project was provided by MSD Partners, L.P., which was formed in 2009 by the partners of MSD Capital, L.P., the family investment office for Michael Dell, the Founder & CEO of Dell Technologies. This acquisition marks the first project for Wharton Industrial in the Arizona Market.
Dylan Sproul and Paul Borgesen of SVN Desert Commercial Advisors negotiated the transaction on behalf of the Buyer. Dylan Sproul stated, “Very pleased with the execution by all parties in this transaction. It is great to see the continued demand for industrial investment opportunities by out of state investors.”
SVN | Desert Commercial Advisors is a full-service commercial real estate services firm providing comprehensive expertise in investment brokerage, leasing, landlord/tenant representation, analysis/valuation and market research. We specialize in multifamily, industrial, retail, office, medical/dental, restaurant, and land/development. Visit our website at www.SVNDesertCommercial.com for more information.
For more information, please contact:
Perry Laufenberg firstname.lastname@example.org 480-425-5500