ATLAS Capital Partners Develops Class A Industrial Hub; Simone Charitable Foundation Acquires Property with Colliers Representing Buyer
Phoenix (November 14, 2025) - A newly completed logistics facility in Gilbert, developed by ATLAS, a Scottsdale-based real estate investment and development firm, has been sold for $26.8 million. The 60,500 square-foot property, situated on just over eight acres at 3797 S. Silverado Ct., with immediate access to Loop 202 via both Gilbert and Lindsay roads, serves as a regional distribution center for Frito Lay PepsiCo.
“Gilbert continues to attract some of the most sophisticated industrial users in the country,” said Brian Ackerman, executive vice president with Colliers, who represents the buyer, Simone Charitable Foundation. “This acquisition reflects our client’s focus on long-term, high-quality real estate backed by strong credit tenants. The combination of location, building quality, and tenancy made this a highly compelling investment.”
“When we identified this overlooked site, we immediately saw the opportunity to create a low-coverage industrial facility tailored for an occupier needing outdoor storage," said Chris Walton, Founder & CEO of ATLAS. "This project embodies the distinctive, creative opportunities we target and the inherent versatility our platform delivers.” ATLAS was represented by Will Strong and team from Cushman & Wakefield.
ATLAS developed this best-in-class industrial facility, featuring a low-coverage site design including a secured, visually screened yard. Delivered in late 2024, the single-tenant facility was designed as a build-to-suit for PepsiCo Global Real Estate and is leased on a long-term basis. The design features a 161-foot building depth, a 130-foot truck court, and over two acres of secured concrete yard, providing ample trailer parking and fleet storage. The location offers direct visibility from Loop 202 and immediate access via both the Gilbert and Lindsay Road interchanges, enabling efficient regional distribution throughout Metro Phoenix and beyond.
The site lies within one of Metro Phoenix’s most land-constrained and sought-after submarkets, benefiting from its proximity to major employers—including Intel’s Chandler campus—and a growing base of technology and supply chain companies.
Since its establishment in 2020, ATLAS has developed and acquired more than $450 million in projects, including this 60,500-square-foot, last-mile distribution facility in Gilbert, leased to Frito-Lay (PepsiCo). The Gilbert project highlights ATLAS’s strategy of delivering differentiated low-coverage industrial properties in high-demand markets, combining tenant-specific build-to-suit solutions with strategic land acquisition and development expertise.
Simone Charitable Foundation purchased the property from ATLAS, reinforcing strong investor demand for high-quality, mission-critical industrial assets in the region.