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GILBERT, ARIZ. — Dallas-based Stonelake Capital Partners has purchased a renovated industrial property located at 1503 W. San Pedro St. in Gilbert. Pallisides Trust sold the vacant asset for $11.5 million.
Situated on five acres, the 65,531-square-foot building features 9,000 square feet of office space, 24-foot clear heights, LED lighting, air conditioning, a secured yard with motorized gate, advanced security system, new asphalt parking lot, multiple cranes, air compressors and grade-level loading. The property also includes 1.5 acres of excess yard.
Phil Haenel, Mike Haenel and Andy Markham of Cushman & Wakefield’s Phoenix office represented both parties in the deal.