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5215 North Alsup Road

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

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

5215 North Alsup Road

$104,500,000

$157/SF

Building Size

663,000 SF

Asset Type

Industrial

Closing

Jan 23, 2026

AI

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:

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.

Players

Will Strong

Cushman & Wakefield

Broker

$3.2B

vol

54 deals

Broker
EQT Exeter
EQT ExeterBuyer
New York Life Real Estate Investors
New York Life Real Estate InvestorsSeller

Litchfield Park Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

Loading comparables…

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.15%

Cash-on-Cash

-0.04%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93