BentallGreenOak has invested $109.2m (€105.8m) to buy a 730,760sqft big-box distribution building in the US from Clarius Partners and Walton Street Capital.
Cushman & Wakefield said it has advised the joint sellers on the sale of the fully leased Lakin Park Building 1A situated on over 46 acres in Goodyear, Arizona.
Will Strong, vice chairman of Cushman & Wakefield’s national industrial advisory group, said Lakin Park Building 1A is a best-in-class core asset with long-term tenancy in a high-performing industrial submarket.
”Backed by strong tenant demand, this type of industrial asset class remains highly sought after by investors.”
Mark Balcius, senior vice president for Clarius Partners, said: “The Clarius team was excited to have the first building in Lakin Park fully leased prior to completion and the opportunity to work with BentallGreenOak.”
Balcius said the company is scheduled to break ground on a 530,307sqft building in Lakin Park later this year and a 1.18m sqft building during the first quarter of 2023.
To read the latest edition of the latest IPE Real Assets magazine click here.
