Creation Equity, an alternative investment and real estate development firm, has announced the sale of Northern 101 Commerce Center, a new state of the art industrial development in the Glen Harbor Airpark.
Northern 101 Commerce Center was acquired by CapRock Partners, a leading private industrial investment and development firm, for $44 million. The development was designed and built by LGE Design Build, the Valley’s leading full-service design and general contracting firm.
Located in Glendale, Ariz., Northern 101 Commerce Center consists of 388,621 square feet of industrial space across four buildings. Conveniently located adjacent to the Loop 101 freeway and Northern Pkwy, Northern 101 Commerce Center offers ease of access to the Central, North and West Valley Phoenix metro areas.
Situated on two sites totaling 30 acres, Northern 101 Commerce Center has excellent proximity to retail, entertainment, and restaurant developments including; the Arizona Cardinals Stadium, Westgate Mall and Top Golf. Neighboring major employers include Conair, Coca Cola and NPL Construction.
Creation Equity’s Vice President of Transactions Grant Kingdon said, “We are happy to congratulate CapRock Partners on this acquisition. Northern 101 Commerce Center provides a much-needed modern industrial offering in the amenity-rich Glen Harbor Airpark and we are confident CapRock will experience rapid absorption of the project.”
Northern 101 Commerce Center features best-of-market amenities including ample clear height, enhanced parking ratios, generous loading areas and modern design features.
Will Strong and Greer Oliver with Cushman and Wakefield managed the sale of Northern 101; Bob Kling and Matt Hobaica with Lee and Associates are the leasing brokers on the project.