GLENDALE, ARIZ. — EQT Exeter, a real estate division of EQT, has purchased Falcon Park 303 – Phase II, a 326,018-square-foot, Class A industrial building on more than 21 acres in Glendale. US Capital Development (USCD) and an institutional investor sold the asset for $50 million.
A single tenant occupies the freestanding building, which was completed on a speculative basis in 2023. Totaling 925,504 square feet, Falcon Park 303 – Phase I and II are located at 15132 and 15152 W. Camelback Road, respectively.
Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the sellers in the disposition. Cushman & Wakefield’s Mike Haenel, Andy Markham, Phil Haenel and Foster Bundy provided market leasing advisory in the sale, as well as brokered the full-building lease with the existing tenant in fourth-quarter 2023.
In 2023, the Cushman & Wakefield team brokered the sale of Falcon Park – Phase I to Cohen Asset Management for $81.7 million, while the Cushman & Wakefield equity debt structured finance team arranged the financing for the buyer.