EQT Acquires Industrial Property Commerce @ 303 In Litchfield Park For $104.5 Million

This transaction involves a Class A industrial property located at 5215 North Alsup Road in Litchfield Park, AZ. The property spans 663,000 square feet and was sold for $104,500,000, translating to a price per square foot of $158. The sale also includes a shovel-ready 32.6-acre parcel intended for an industrial campus that will accommodate nearly 1.2 million square feet, with the construction of a new speculative building slated for completion by Q4 2026.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $104,500,000
• Buyer: EQT
• Seller: New York Life Real Estate Investors & SteelWave
• Brokers: Will Strong, Molly Miller, Jack Stamets, Michael Matchett & Madeline Warren - Cushman & Wakefield
• Square Footage: 663,000
• Price Per Square Foot: $158

The transaction was facilitated by a group of brokers from Cushman & Wakefield, including Will Strong, Molly Miller, Jack Stamets, Michael Matchett, and Madeline Warren. These individuals played a critical role in bringing together EQT and the sellers, New York Life Real Estate Investors and SteelWave, to successfully complete this substantial industrial real estate transaction.