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BlackRock Acquires Southern Arizona Logistics Center For $50.4 Million From Flint Development

Property Image
SOLD
$50,400,000
John Werstler
Steve Shields
+ 4

Arizona

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Industrial435,023 SF
Sold 02/03/2026
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Property Image
SOLD

BlackRock Acquires Southern Arizona Logistics Center For $50.4 Million From Flint Development

10070 West Clark Farms Boulevard

See Similar Deals
Industrial435,023 SF
Sold 02/03/2026
John Werstler
Steve Shields
+ 4
Contact now

Summary

ARIZONA
Asset Type:Industrial
Price Per Square Foot:$115
Total Square Footage:435,023 SF
Transaction Type:Sale

On February 3, 2026, a warehouse property located at 10070 West Clark Farms Boulevard in Marana, Arizona, was sold for $50.4 million. This industrial asset spans 435,023 square feet and has a price per square foot of $116.

Summary of transaction details:

This transaction involved notable representatives in the commercial real estate sector, with the seller being supported by Tim Healy, John Werstler, Tanner Ferrandi from CBRE, and Robert Glaser from Cushman & Wakefield working on behalf of Flint Development. BlackRock was represented by Peter Wessling and Steve Shields from Transportation Property Company in this significant industrial acquisition.

Players

John Werstler
3 deals$87.6M volume
BROKER

Tanner Ferrandi
CBRE
3 deals$87.6M volume
BROKER

Steve Shields
CBRE
3 deals$111.2M volume(704) 331-1284
BROKER

Tim Healy
CBRE
2 deals$169M volume(520) 247-9194
BROKER

Robert Glaser
Cushman & Wakefield
5 deals$63.1M volume(520) 546-2707
BROKER

Peter Wessling
1 deal$50.4M volume(858) 350-4050
BROKER


BlackRock
BUYER

Details

SOLD
IMAGE: 02/03/2026 ADDRESS: 10070 West Clark Farms Boulevard MARKET: Marana, AZ ASSET TYPE: Industrial BUYER: BlackRock SELLER: Flint Development BUYER'S REP: Peter Wessling & Steve Shields - Transportation Property Company SELLER'S REP: Tim Healy, John Werstler, Tanner Ferrandi - CBRE & Robert Glaser - Cushman & Wakefield SALE PRICE: $50,400,000 SF: 435,023 ~ PPSF: $116 NOTE: BlackRock bought Southern Arizona Logistics Center Building , a 435,023-square-foot warehouse in Marana, Arizona, for $50.4 million from Flint Development.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$2,688,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$179,060.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$238,921.71
Annual Debt Service$2,867,060.55