Sierra Ridge Capital Buys 123,032 SF Industrial Building in Phoenix for $31M

PHOENIX — Los Angeles-based Sierra Ridge Capital has acquired 3137 East Elwood Street, an industrial property in Phoenix, from Arizona-based 3137 East Elwood LLC for $31 million. Gary Cornish, Nico Burgarello, Barry Gabel, CJ Osbrink and Chris Marchildon of Newmark represented the seller in the deal. Built in 1995 and renovated in 2026, the 123,032-square-foot property features a clear height of 22 feet, 10 oversized grade-level loading doors, one truckwell, secure yard space, heavy power capacity and full HVAC coverage. Situated on 9.8 acres in Phoenix’s Southbank Business Park, the property was fully leased to three tenants at the time of sale.