At a glance
- Cushman & Wakefield's National Industrial Advisory Group arranged the trade, representing the seller and an undisclosed buyer; no sale price was disclosed.
- The buildings were developed in 2022 as a joint venture between Hopewell Development and Nicola Wealth Real Estate, and Nicola Wealth acquired the property as an investment later that same year.
- The missing price and buyer keep the deal from serving as a benchmark.
Connect CRE reports that Nicola Wealth has sold South Valley Business Park, a pair of Class A industrial buildings at 1710 and 1720 East Germann Road in Chandler, Ariz., totaling 143,813 square feet. Cushman & Wakefield's National Industrial Advisory Group arranged the trade, representing the seller and an undisclosed buyer; no sale price was disclosed. The team was Will Strong, Jack Stamets, Molly Miller, Michael Matchett and Madeline Warren.
The buildings were developed in 2022 as a joint venture between Hopewell Development and Nicola Wealth Real Estate, and Nicola Wealth acquired the property as an investment later that same year. The park is fully leased to five tenants, with EMD Electronics as a long-term tenant. The property's direct frontage on Germann Road and immediate access to Loop 202 connect it to the broader Phoenix freeway network, while the Class A specs accommodate manufacturing, distribution and logistics users.
An undisclosed buyer, a fully leased park
The missing price and buyer keep the deal from serving as a benchmark. It reads instead as a liquidity event: a seller converted a fully leased Class A property into cash in a Phoenix industrial corridor without terms becoming public. Whether the acquirer is institutional or private capital would sharpen the demand picture; absent that, the useful facts are the two buildings, five tenants, and the freeway tie-in. For private investors watching industrial allocations, that's a quiet but telling data point.
Reported by the Deals desk from Connect CRE. Published . Corrections