Boston company pays $57 million for three-building Chandler industrial park

PHOENIX — Boston-based Longpoint Realty Partners paid $57 million for the three-building Chandler industrial park Midway Commerce Center, a marketing firm announced Wednesday.

Real estate development firm Creation sold the property located on the northeast corner of Germann Road and Hamilton Street, which sits within a subsection of the Chandler Airport.

The 301,994-square-foot industrial facility occupies 18.3 acres.

Park construction was completed earlier this year by LGE Design Build before switching ownership hands, a press release said.

“We are pleased to announce the sale of Midway Commerce Center, marking Longpoint Realty Partners’ first acquisition in Arizona,” Grant Kingdon, principal of the Mountain West Region at Creation, said in a release. “The Chandler Airpark submarket continues to attract a diverse array of industrial occupants due to its strategic location, educated workforce and surrounding high-quality amenities.”

Cushman and Wakefield’s Will Strong and Molly Hunt were the brokers that finalized the deal with Creation, which has a portfolio of ground-up developments worth an estimated $4.5 billion.

Besides their latest transaction, Creation’s Arizona footprint includes projects of Park Algodon in Phoenix, Thunderbird Commerce Park in Scottsdale and Nexus Commerce Center in Tempe.

Learn more about Creation and their Valley developments here.

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