Commercial Properties, Inc./CORFAC International (CPI), Arizona’s largest locally-owned commercial real estate brokerage, is pleased to announce the sale of the Tailwinds at Gateway industrial complex totaling 172,244 square feet.
Tailwinds at Gateway is a 172,244 SF Class A Industrial Complex in the Southeast Submarket of Phoenix, Arizona, which consists of 4 Multi-Tenant and 6 Single-Tenant Freestanding Buildings with nationally and internationally recognizable tenants such as Hermle USA, United Resin, ABB Inc., Crane Worldwide Logistics, Vortex Industries, & Falcon Engineering Corp. The property was 100% occupied at the time of the sale.
Left to Right: David Bean, Cory Breinholt, Kelli Jelinek, Leroy Breinholt, Danielle Tarpley, Nathan Bradfield, Cory Sposi.
Cory Breinholt, and Cory Sposi along with David Bean, and Kelli Jelinek of The Leroy Breinholt Team at Commercial Properties Incorporated represented the Seller, Jeff Arnold. McCarthy Cook & Co was the Buyer of this deal.
This transaction is the first small-bay industrial investment in Phoenix for McCarthy Cook & Co., and its re-entry into the Phoenix market after selling a 1MSF office portfolio in 2017. This speaks to McCarthy Cook’s confidence in the Phoenix market, where they intend to grow their portfolio, and in the Small Bay Industrial sector. “We’re thrilled to return to Phoenix and thank Jeff Arnold for visioning and developing the highest quality, the most compelling product of this type in the country.” said Edward Cook, Co-President of McCarthy Cook & Co. “This acquisition demonstrates our commitment to expand our new Enterprise Industrial venture and differentiated and relationship-driven management model as we target strategic submarkets nationally. We look forward to continued expansion in Phoenix with the help of the professional Team at Commercial Properties, Incorporated.”
Cory Sposi, of The Leroy Breinholt Team commented, “We were proud to be involved from the very start of this project. Tailwinds at Gateway, developed by Jeff Arnold at Cedar Point Builders, delivered an exceptional small-bay industrial product. We consulted through the construction process, handled leasing, and once fully leased, we promoted the project for sale as a Class A Investment. McCarthy Cook makes a splash in the Phoenix Market with this transaction. Their understanding of this product type, and team of experienced professionals, made it a pleasure to work with them. I look forward to seeing McCarthy Cook’s future success in this project and the Phoenix Metro Area. Special thanks go out to our executive support staff and our marketing team who helped keep this moving forward as we worked to find the perfect buyer in a competitive submarket.” Tailwinds at Gateway sold for $51,500,000 / $298.99 PSF.
For additional information, please contact Cory Sposi at csposi@cpiaz.com or (480) 621-4025, Kelli Jelinek at kjelinek@cpiaz.com or (480) 214-1109, David Bean at dbean@cpiaz.com or (480) 214-1105, or Cory Breinholt at cbreinholt@cpiaz.com or (480) 889.2569.
About McCarthy Cook & Co.
McCarthy Cook & Co. is a privately held commercial real estate investor and manager with offices in Orange County, Los Angeles, and San Francisco. With a 30-year track record and over $6.3 billion of investment transactions, McCarthy Cook brings a special blend of entrepreneurial zeal and institutional capabilities to our investment underwriting and our strategic asset management disciplines including entitlements, development and construction management, leasing, property management, accounting, and reporting. MCC owns and manages over 3 million square feet of Class A office, life-science, industrial and mixed-use assets in the western U.S. and partner with premier institutional investors such as Oxford Properties, PGIM, Northwestern Mutual, JPMorgan, Morgan Stanley, Northwood Investors, Alliance Bernstein, Blackstone, and Rialto Capital. mccarthycook.com
About Commercial Properties Inc.
Established in 1981, Commercial Properties Inc. (CPI) is a full-service brokerage and property management firm for all product types of commercial real estate. Headquartered in Tempe, the company has more than 65 brokers and is operating throughout the Phoenix metropolitan area. Currently, CPI’s listings include over 21.6 million square feet for sale/lease with more than 200 projects and associations under management, totaling over 12 million square feet.
CPI is the Phoenix affiliate of CORFAC International, comprised of privately held brokerage and property management service providers in more than 70 national and international markets. To learn more, please visit us online at www.cpiaz.com
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