Libitzky Property Companies Acquires Industrial Asset In Mesa From Phelan Development For $29.4M

The property asset involved in this transaction is an industrial facility located at 8341 East Pecos Road in Mesa, AZ. The asset was sold for $29,400,000, encompassing a total area of 141,117 square feet, resulting in a price per square foot of $208.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $29,400,000
• Buyer: Libitzky Property Companies
• Seller: Phelan Development
• Brokers: Phil Handel & Will Strong - Cushman & Wakefield
• Square Footage: 141,117
• Price per Square Foot: $208

This transaction involved Libitzky Property Companies acquiring the Phelan Pecos Center I—Building C, with a new 10-year lease signed by Cyclic Materials. Cushman & Wakefield’s Phoenix team represented the seller, Phelan Development, in this deal.