Phoenix, Arizona – Alignment Realty Capital (“Alignment”), a direct, net-leased acquisitions group based in Phoenix, Arizona, is pleased to announce it has closed on the $1.75MM acquisition of a free-standing, single-tenant 12,120 square-foot industrial asset in the premier Deer Valley submarket of Phoenix, Arizona. The building serves as the headquarters and manufacturing facility for Banner Wilson, a custom cabinet and millwork company serving commercial and residential clients across the valley.
Alignment Realty Capital directly acquires net-leased real estate across the United States with a focus on industrial buildings, dental and orthodontic practices, quick-service restaurants, and other essential and non-discretionary retail.
“Alignment was a pleasure to work with,” said Jeff Conrad of Lee & Associates, who represented the seller in the transaction. “Alignment was on top of every detail and made sure the entire closing process was seamless for my client. The transaction closed on time, and as we originally agreed to,” Jeff added.
The building, located in the highly coveted Deer Valley Airpark, features 18-foot clear heights, four drive-in doors, and convenient access to both the AZ Loop 101 and the Interstate 17. It is roughly 7 miles south of the site on which Taiwan Semiconductor Manufacturing Company (TSMC) will invest roughly $12BN to develop a flagship chip factory.
Alignment believes that Deer Valley is poised for continued economic growth. The TSMC factory will be a major driver of jobs and new development in North Phoenix, and the impact will be amplified by the auxiliary business generated by suppliers to the factory and additional supporting infrastructure.
National Bank of Arizona provided Alignment Realty Capital with acquisition financing.
Alignment is actively seeking new single-tenant industrial investment opportunities in the Southwest, with an emphasis on sale-leasebacks acquisitions.