Centris Industrial, an externally managed private real estate investment trust (REIT), announced the closing of its acquisition of more than 23 acres of land upon which the REIT plans to develop more than 400,000 square feet of industrial and logistics space to serve the growing East Mesa, Ariz., submarket. The development is anticipated to deliver in the first half of 2024. Cushman & Wakefield represented Centris in the land acquisition and will manage all leasing efforts for the new facilities.
“The acquisition of the Mesa site underscores the swift success of the Centris platform and the continued expansion of the REIT’s portfolio across key U.S. industrial and logistics markets,” says Michael Podboy, chief executive officer at Centris.
The class A industrial and logistics development will be situated on a two-parcel site strategically located at the corner of 80th Street and Pecos Road, providing strong visibility and access to the neighboring
