Phoenix, Arizona – Alignment Realty Capital (“Alignment”), a direct, net-leased acquisitions group based in Phoenix, Arizona, is pleased to announce the closing of a $9MM sale-leaseback acquisition of a 55,090-square-foot industrial property in Chandler, Arizona. The building serves as the headquarters facility for a diversified equipment rental company, who signed a long-term lease as part of the acquisition.
“From contract to close, Alignment was extremely timely, fair, and rational in their acquisition process,” says Chad Neppl of Citywide CRE, who, alongside his partner Todd Hamilton, represented the seller. “Their team reached out to me directly to express their interest in a sale-leaseback with one of my clients, and I was thrilled we could reach such a mutually beneficial structure for both parties in this deal,” he added.
The building, built in 2005 by LGE Design Build, features 24-foot clear heights, roughly 2 acres of paved and secured yard, Class-A office finish, and immediate access to the Loop 202 San Tan Freeway.
Alignment believes Arizona’s pro-business environment and relatively low cost of living will continue to usher in migration, job growth, and economic expansion to the state, supporting general market tailwinds for industrial real estate. Alignment is actively seeking new single-tenant industrial investment opportunities in the Southwest, with an emphasis on sale-leasebacks acquisitions.
National Bank of Arizona provided Alignment Realty Capital with acquisition financing.