The park's four warehouses were fully leased at sale time. "We had planned to take Lincoln Commerce Park to market once it reached 80% occupancy, but we received an offer when we had a lot of leases about to be signed," Cooper Sutherland, a development associate with Lincoln Property, tells GlobeSt.com. "We did an analysis of historical sales and decided the offer was beneficial." He adds the $90.39 per sf price is a "high-water market for these type of buildings." Joe Porter, Pat Feeney and Dan Calihan with CB Richard Ellis Inc.'s local office represented the buyer, Seventh Avenue LLC of Seattle.

The four-year-old Lincoln Commerce Park takes up 14 acres at the southwest corner of 7th Avenue and Interstate 17. The warehouses, all in the 2100 block of South Seventh Avenue, range from 46,814 sf to 67,600 sf.

Before the off-market sale closed, Clark Security Products Inc., Sigma Foods and GE Polymershapes were added to the park's roster. The security company took 25,182 sf with a seven-year pact; GE Polymershapes, 12,755 sf in a five-year lease; and Sigma Foods, 12,619 sf, which also signed a five-year commitment.