Cushman & Wakefield Negotiates $14.6 Million Sale in Mesa, AZ
PHOENIX, January 24, 2019 – Cushman & Wakefield announced that Pacifica Real Estate Group of Santa Barbara, Calif. purchased Pecos Gateway Business Park, located at 8743 E. Pecos Road in Mesa, Ariz. Boomerang Capital Partners of Mesa sold the 125,896-square-foot (sf) industrial property for $14.6 million.
Bob Buckley, Tracy Cartledge, and Steve Lindley of Cushman & Wakefield’s Phoenix office negotiated the transaction on behalf of the seller.
Pecos Gateway Business Park is a three-building, multi-tenant industrial property located along Pecos Road, approximately 1.5 miles south of the Phoenix-Mesa Gateway Airport. Situated on 10.56 acres, the property features 18-23 feet clear height, 11 dock-high loading doors, 29 grade-level loading doors, and suites ranging in size from 2,000-17,500 sf.
Currently 100 percent occupied, Pecos Gateway Business Park has maintained a 92 percent average occupancy since the first quarter of 2011. Built in 2008, the property recently underwent capital improvements including a new elastomeric coating on the roof.
“Pecos Gateway is a classic multi-tenant industrial property located in the rapidly developing Gateway Airport area,” said Buckley. “Its ongoing history of high occupancy combined with its location in this dynamic market sets the stage for Pecos Gateway to be a successful investment for Pacifica.”
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value by putting ideas into action for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with 48,000 employees in approximately 400 offices and 70 countries. In 2017, the firm had revenue of $6.9 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.