Arizona

CHANDLER, ARIZ. — Creation has completed the disposition of Midway Commerce Center, a master-planned industrial park in the Phoenix suburb of Chandler. Boston-based Longpoint Realty Partners purchased the asset for $57 million. Located at the northeast corner of Germann Road and Hamilton Street, Midway Commerce Center consists of three buildings offering a total of 301,994 square feet of light industrial space on 18.3 acres. Will Strong and Molly Hunt of Cushman & Wakefield handled the transaction. Ken McQueen, Chris McClurg and Blake Peters of Lee & Associates supported leasing efforts and will remain involved following the sale. LGE Design Build completed construction of Midway Commerce Center earlier this year.

TEMPE, ARIZ. — LBA Logistics has completed the disposition of University Logistics Center, an industrial and logistics building on nine acres in Tempe. Setna iO and Setnix, an owner/occupier, acquired the asset for $27.5 million. Located at 1345 S. 52nd St., the 112,300-square-foot facility features 3,500 square feet of office space, 32-foot clear heights, three dock-high doors, 10 drive-in load doors, three truck wells, a concrete truck court, 18 new windows, storefront entry for will call, new LED lighting for the interior space and parking areas, secured parking and trailer storage and multiple points of ingress/egress. Additionally, the property offers 494 parking spaces. The buyer plans to use the facility to expand its operations, which focuses on aftermarket aircraft parts supply and high-tech airplane parts machining and repair. Mike Haenel, Andy Markham and Phil Haenel of Cushman & Wakefield represented the seller, while Todd Hamilton of Citywide Commercial Real Estate, along with Denise Stain Chaimovitz of Entre Commercial Realty, represented the buyer in the deal.