State: Arizona - AZ

The property, built in 1997, is 19 miles southeast of Phoenix. It is 91.6% leased. Its tenants have a weighted average 3.2 years left on their agreements.

An affiliate of Baseline Partners has paid $25.25 million, or $249.02/sf, for Arrowhead Executive Center, a 101,397-square-foot office property in Glendale, Ariz., about 22 miles north of Phoenix. The Mesa, Ariz., investment manager acquired the property, at 17235 North 75th ...

The property was built in 2022 and is fully leased on a triple-net basis by SKU Distribution through 2030. It is right next to the Mesa Gateway Airport and has 32-foot clear heights, 12 dock positions, and 10 drive-in doors.

The properties were built in 2017 and include warehouse, office, and conferencing space. Miramar, a Los Angeles investor, acquired the portfolio from MainSpring Capital Group of Scottsdale, Ariz. The deal was recently highlighted by Kidder Mathews.