Oxford Properties buys six-building Phoenix industrial portfolio

Oxford Properties Group bought six light industrial buildings in Phoenix and Tempe, Ariz., near Sky Harbor International Airport. The purchase lifts its Phoenix industrial holdings to 15 assets and about 1.2 million square feet.

A person with knowledge of the deal told Commercial Observer the 460,000-square-foot portfolio traded for about $100 million, or roughly $217 a square foot. Oxford did not disclose a price or name the seller. Revere CRE data and a CBRE brochure point to Link Logistics as the seller, Commercial Observer reported.

Advisors weighing industrial fund allocations get a Phoenix comp of about $217 a square foot for airport-adjacent light industrial. The 460,000 square feet is more than a third of the 1.2 million square feet Oxford now claims in Phoenix, suggesting the new buildings will use the existing Phoenix leasing and management operation.

Ankit Bhatt, head of U.S. investments at Oxford Properties, said the purchase is part of a 2026 program in which Oxford sold $400 million of property and put an equal amount into acquisitions and development. He described industrial as a high-conviction theme for the firm's U.S. platform and cited its vertically integrated operating capability in light industrial.

"Sycamore adds durable income to our portfolio in regional submarkets where we already have a meaningful presence," Bhatt said. He said local teams would use their operating experience to improve the assets' performance over time.