Updated Jul 28, 2026
Donald F. Colleran Of EastGroup Properties Acquires Airgate Facility In Mesa For $27.6M
7353 East Ray Road
$27,600,000
$193/SF
Building Size
142,735 SF
Asset Type
Industrial
Closing
Jul 27, 2026
About this deal
AI
The industrial facility located at 7353 East Ray Road in Mesa, AZ, was sold for a transaction amount of $27,600,000. The property spans 142,735 square feet and was built in 2022. This fully leased asset is occupied by SKU Distribution until 2030, facilitating operations near Mesa Gateway Airport.
Summary of transation details:
- Property Type: Industrial
- Transaction Amount: $27,600,000
- Square Footage: 142,735
- Address: 7353 East Ray Road
- Market: Mesa, AZ
- Price Per Square Foot: $193
- Buyer: Donald F. Colleran - EastGroup Properties
- Seller: Greg Merage - MIG Real Estate
- Brokerage: Will Strong, Michael Matchett, Molly Miller Hunt, Jack Stamets & Madeline Warren - Cushman & Wakefield
This transaction involved key figures in real estate, with Donald F. Colleran representing EastGroup Properties as the buyer, while Greg Merage acted on behalf of MIG Real Estate as the seller. The deal was facilitated by brokers from Cushman & Wakefield, highlighting a collaborative effort among industry professionals.
On the Map
$27,600,000
$193/SF
Industrial
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Players
Mesa Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93