MetLife Investment Management Provides $89.25M Loan For Mack Innovation Park In Phoenix

The industrial asset involved in this transaction is the Mack Innovation Park Deer Valley Site C, consisting of four buildings with a total square footage of 584,665. It is located at 275, 125, 33 & 55 Pinnacle Peak Road in Phoenix, AZ. The property is currently 85% leased and has received a loan amount of $89,250,000 from MetLife Investment Management.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $89,250,000
• Address: 275, 125, 33 & 55 Pinnacle Peak Road
• Market: Phoenix, AZ
• Asset Size: 584,665 sf
• Lender: MetLife Investment Management
• Landlord: Mack Real Estate Group
• Broker: JLL Capital Markets
• Leased Percentage: 85%
• Adjacent Project: Halo Vista mixed-use project, $7B, 2,300 acres

JLL Capital Markets arranged the financing for this project on behalf of Mack Real Estate Group. This transaction reflects the ongoing interest in the Phoenix industrial market and showcases Mack Real Estate Group's involvement in significant development projects.