Machine Investment Group (MIG), a real estate investment platform focused on opportunistic, distressed and special situations across the United States, in a joint venture partnership with Miramar Capital and Axonic Capital, announced the acquisition of The Hub @ 202, a 1,271,390-square-foot, 10-building industrial park located in the Southeast Valley. The industrial campus consists of 10 separate buildings ranging in size from approximately 65,000 square feet to 270,000 square feet and is strategically positioned within one of the nation’s fastest-growing industrial and manufacturing corridors.
MIG purchased The Hub @ 202 with plans to invest additional capital into the property to create move-in ready industrial suites designed to meet the strong market demand and attract a broad range of tenants seeking high-quality space with immediate occupancy capabilities.
“The Hub @ 202 represents an exceptional opportunity to acquire a high-quality industrial asset in one of the country’s most dynamic growth markets at a highly attractive basis,” said Eric Rosenthal, Co-Founder and Managing Partner of Machine Investment Group. “We believe Phoenix continues to demonstrate compelling long-term fundamentals, and our ability to reinvest into the property positions us well to capture demand from today’s most active industrial users.”
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Lew Friedland, Chairman of Miramar Capital, added, “We are very proud to partner on this outstanding project with Machine and Axonic, and are excited to be a part of driving continued economic, industrial and advanced manufacturing growth in the Southeast Valley of Phoenix, a market that we believe has a very bright future ahead of it.”
Cushman & Wakefield’s Will Strong, Molly Miller, Jack Stamets, Michael Matchett, and Madeline Warren coordinated the sale along with leasing advisors Ken McQueen, Chris McClurg, Blake Peters, and Jack Sims of Lee & Associates. Additionally, Cushman & Wakefield’s Equity, Debt & Structured Finance (EDSF) team, including Brian Share, Rob Rubano, Max Schafer, and Joseph Lieske the financing on behalf of new ownership.
The Phoenix industrial market continues to experience significant demand drivers fueled by strong population growth, a business-friendly environment with a deep labor pool, and attractive housing options. Additionally, its strategic location allows logistics companies to service more than 40 million consumers within a single-day truck drive.
The region has also emerged as a rapidly expanding semiconductor and advanced manufacturing hub. Taiwan Semiconductor Manufacturing Company (TSMC) recently announced investments expanding to as much as $165 billion across multiple semiconductor fabrication plants in North Phoenix. In addition, LG Energy Solution is developing a $5.5 billion standalone battery manufacturing complex in Queen Creek, located approximately 15 minutes from The Hub @ 202 property. These transformative projects are driving increased leasing demand throughout Phoenix and have established the region as a premier national hub for semiconductor manufacturing.
The acquisition further expands MIG’s industrial investment platform and reflects the firm’s continued focus on investment opportunities within all major and specialty property types, located in emerging and existing institutional markets across the United States. MIG targets growth markets with diverse demand generators that offer attractive yields and advantageous entry points.
