Real Estate Equity Acquisition and Development

10 West Logistics Center
Phoenix, Arizona

“10 West Logistics Center is one of the premier Class A industrial properties in the Southwest Valley, with 36’ clear functionality, above-market parking availabilities, and a central location with excellent freeway access. This acquisition allows New York Life to complete the final phase of a project, whereupon between this building and its adjacent building, New York Life will have 1.3 million square feet of cross-dock, high-quality logistics space. For the right user, the buildings can be combined to provide 1.3 million square feet under one roof. Ground-breaking on Phase II of the project is expected to occur in July 2017, with complete construction by 1st quarter 2018.”
—Chris Hunt, Senior Director

  • Acquisition of 36.3 acres of fully entitled land for the construction of a 568,000 square foot, state-of-the-art warehouse
  • Second of two phases; with Phase I completed in 2015 and offering 659,618 square feet of warehouse/logistics space
  • Both projects are built to the highest logistics and quality standards in the market, and have the ability to offer substantial excess parking for truck storage or employee parking on site
  • This acquisition completes New York Life’s control of this phased development, and meets a strategic objective to “build to core” when location and market dynamics provide exceptional development fundamentals

Source: REI Equity Investments, San Francisco Transactions Group, March 2017.