CIP Real Estate Purchases Broadway 101 Commerce Park In Mesa From Canyon Partners For $168.3M

CIP Real Estate purchased Broadway 101 Commerce Park, an 809,230 SF Class A industrial park located at 2140-2360 West Broadway Road in Mesa, AZ, from Canyon Partners Real Estate LLC for $168.3 million. The acquisition represents a price per square foot of $208 and marks the largest Phoenix industrial sale of 2024.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $168,300,000
• Sale Date: 01/10/2025
• Square Footage: 809,230
• Address: 2140-2360 West Broadway Road
• Market: Mesa, AZ
• PPSF: $208

The sale was brokered by Brian Share, Michael Matchett, Molly Hunt, Will Strong, and Joseph "Joe" Lieske from Cushman & Wakefield. Additionally, Cushman & Wakefield arranged a $93.8 million acquisition loan via J.P. Morgan Asset Management for the transaction. Mortgage brokers involved include Robert (Rob) Rubano, Brian Share, and Joseph Lieske, also from Cushman & Wakefield.