AIG Global Real Estate and ViaWest Group, through a joint venture, have sold AZ202 Commerce Park to Lincoln Property Co. for $32.5 million. The property includes two industrial buildings located in the Chandler airport submarket of Phoenix.
Developed in 2020, AZ 202 Commerce Park stabilized in December 2021 and now is leased to four tenants. The property consists of best-in-class features — including gated and secured concrete truck courts and 38 rear-load doors offering dock-high and grade-level loading — and covers around 7.74 acres within minutes of major freeways. Its location in the high-demand industrial market of Phoenix enables a strong pipeline of tenants.
“Our investment in AZ 202 Commerce Park is reflective of our deep understanding of the Phoenix market, as it continues to draw demand from tenants and investors alike,” said Doug Tymins, president and CEO, AIG Global Real Estate. “The sale of this property yielded strong returns for our investors,
