Logistics Property Co. buys 38 acres in Mesa for $20.1 million
The Phoenix/Mesa Gateway Airport is the heart of the growing southeast valley. Another 38 acres of land in Mesa was purchased by developer Logistics Property Co. for $20.1 million. SVN’s Director of Retail and Sales Investments Rommie Mojahed and Advisor Lindsey Dulle represented the seller in the sale transaction.
In a recent statement regarding the 67 acres just sold off Ellsworth and Pecos roads, the City of Mesa’s Economic Development Director, Bill Jabjiniak stated, “Mesa’s Gateway area is booming with the arrival of new advanced manufacturing companies in the aerospace, electric vehicles, semiconductor, medical device, and other important technology sectors.”
Mojahed and Dulle represented the seller, Pecos 205, LLC. The land went to market back in December 2021 and opened escrow in February 2022. “Lindsey and I are happy for the sellers and grateful for the opportunity,” said Mojahed. This location backs up to the Mesa Gateway airport, which is also surrounded by an economically driven growth area. The immediate area includes top employers such as Gulfstream, Amazon, MarWest Commercial, Facebook, Legacy Sports Complex, Arizona State University Polytechnic Campus, and the upcoming Skybridge Arizona Development which is projected to bring in over 17,000 direct and indirect jobs. Mojahed continued to state, “This trade area has experienced tremendous growth and we are happy to be a part of it.”
“This new development is a nice fit for the Pecos Advanced Manufacturing Zone just south of the Phoenix-Mesa Gateway Airport,” Mesa Economic Development Director Bill Jabjiniak said. “We are seeing tremendous activity in an area of the city that continues to attract manufacturers in industries such as aerospace and aviation, electric vehicles, semiconductors, and many other high-tech sectors.” The buyer, Logistics Property Co., was represented by Paul Sieckowski with Colliers.
SVN advisor Mojahed stated, “I grew up in the east valley, so I love working in this area.” This is such a hot market. More and more developers and investors are seeing the considerable opportunity to invest and take advantage of capital gain and opportunity zone incentives.” Mojahed also represented the seller in the recent sale to Cobblestone, which already has 36 locations in the State of Arizona. This new site will be coming soon nearby off Ellsworth and Pecos roads.
For more information on the other development opportunities in the east valley, you can reach Rommie Mojahed at firstname.lastname@example.org in Phoenix, AZ.