Orsett Properties has sold the Gateway Technology Commerce Center, a newly constructed class A, multitenant industrial/warehouse project totaling 138,692 square feet located in Mesa, Ariz.
The two-building project was acquired by Newport Beach, Calif.–based MIG Real Estate for $21.4 million.
Built in 2019, the project is 90.3 percent leased to five tenants in diversified industries.
Steve Lindley, executive director at Cushman & Wakefield in Phoenix, which represented the seller in the transaction, said, “Gateway Tech reflects a state-of-the-art industrial asset that is both freeway- and airport-adjacent. The location provides easy access to the entire metro Phoenix freeway network, as well as regional and national markets. Furthermore, the two buildings are ideally configured to attract tenants across a broad range of industries. All of these factors contributed to a very attractive industrial investment property in the heart of Phoenix’s highly de
