A 1.2 million-square-foot building sold in southeast Mesa for $116 million, making it the largest single-building industrial sale so far this year.
Home improvement retailer Lowe’s occupies the Class A mega-warehouse at 7111 S. Crismon Road on the southeast corner of Crismon and Pecos roads. It’s in Building C at The Cubes at Mesa Gateway, a 268-acre industrial park that will create 4 million square feet at full buildout of “speculative and build-to-suit space,” according to the website of CRG — a Chicago-based real estate and investment firm and the original owner and developer of the industrial park.
It sold the 85.8 acres of land to ARIS MESA LLC, which is affiliated with La Costa Capital Partners — a real estate firm based in Carlsbad, California, according to Tempe-based real estate database Vizzda LLC.
The deal was documented June 11.
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