At a glance
- The remaining space is being marketed to advanced manufacturing, logistics and distribution tenants.
- The park totals 614,800 square feet and is 61% leased, according to Connect CRE.
- The loan offers lenders a current senior-debt comparison for a Phoenix industrial asset still in lease-up.
PCCP has provided a $68.3 million senior loan to Logistics Property Company to refinance Palm Gateway Logistics Center, a four-building industrial park in Mesa, Arizona, according to Connect CRE.
The remaining space is being marketed to advanced manufacturing, logistics and distribution tenants. The park totals 614,800 square feet and is 61% leased, according to Connect CRE. It sits less than two miles from Phoenix-Mesa Gateway Airport and within three miles of Loop 202.
The loan offers lenders a current senior-debt comparison for a Phoenix industrial asset still in lease-up. The 106-million-square-foot Southeast Valley submarket recorded 2.0 million square feet of year-to-date net absorption, 8.2 times its year-to-date deliveries, Connect CRE reported.
Reported by the Real estate debt desk from Connect CRE. Published . Corrections