A 326,018-square-foot warehouse fully leased to medical device manufacturer AirLife has sold for $50 million.The Falcon Park 303 Phase II facility, which was developed by US Capital Development, sold to EQT Exeter in July in an all cash deal, according to Maricopa County land documents.Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield represented US Capital Development in the deal. Mike Haenel, Andy Markham, Phil Haenel and Foster Bundy of Cushman & Wakefield provided market leasing advisory services in the sale and are the leasing brokers for the facility.Previously known as SunMed, AirLife last year signed one of the largest industrial leases in the Valley at the warehouse, which is located at 15152 W. Camelback Road in Glendale.Earlier this year, Grand Rapids-based AirLife announced its plans to open a new distribution center at the facility and create 65 new jobs.The building is part of the overall Falcon Park 303 project that includes a second facility comprising 600,000 square feet, which sold last year for $81.6 million to Cohen Asset Management from The Carlyle Group. That facility was fully leased to aircraft parts and components provider Unical Aviation Inc. for its global headquarters.Cushman & Wakefield teams were involved in locating the site for the Falcon Park 303 project, as well as leasing and selling both buildings.“Through Cushman & Wakefield’s close, collaborative relationships and full-service capabilities, our cross-service, cross-market team of professionals successfully supported USCD through the entire lifecycle of this asset under their ownership,” said Strong in a statement.• The Surprise Crossings LEED-certified industrial facility totaling nearly 275,000 square feet has delivered in the West Valley city of Surprise.It was developed by Panattoni Development Co., designed by Cawley Architects and built by Wespac Construction Inc. JLL is the brokerage handling leasing for the project.expandThe Surprise Crossings industrial project has completed in the city of Surprise in 2024.Wespac Construction Inc.Located across 16 acres at 13301 N. 137th …
See the full article on Arizona residential development, or, read more Arizona real estate investing news. Feel free to share our site with your investor friends.
