Creation Finalizes Sale of Master-Planned Industrial Park to Longpoint Realty Partners
Midway Commerce Center located in Chandler traded hands this week as award-winning real estate development firm Creation sold the three-building, 301,994-square-foot master-planned industrial center to Boston-headquartered Longpoint Realty Partners for $57 million.
Located on the northeast corner of Germann Road and Hamilton Street, Midway Commerce Center is a state-of-the-art, three-building light industrial business park on 18.3 acres in the heart of the Chandler Airport infill submarket.
“We are pleased to announce the sale of Midway Commerce Center, marking Longpoint Realty Partners’ first acquisition in Arizona,” said Grant Kingdon, principal of the Mountain West Region at Creation. “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.”
Will Strong and Molly Hunt with Cushman and Wakefield were the brokers who handled the sale. Ken McQueen, Chris McClurg and Blake Peters with Lee and Associates supported the leasing efforts and will remain involved following the sale. LGE Design Build, one of Southwest’s premier design-build construction firms, completed construction on Midway Commerce Center earlier this year.
Founded by David Sellers and Bob Agahi in 2018, Creation’s portfolio encompasses $4.5 billion of ground-up developments in major growth corridors in Arizona, Texas, California, Tennessee, New York and New Jersey. Creation has a number of new projects underway in the Valley, including Park Algodon in Phoenix, Thunderbird Commerce Park in Scottsdale and Nexus Commerce Center in Tempe. For more, visit CreationEquity.com.
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