The seller was Mountain West Industrial Properties of Greenwood Village, CO, which completed the project last year at 7375 W. Buckeye Rd. and had leased 93% of it by the time it went on the market. The anchor tenant is Pilkington North America Inc., a vehicle and building glass company founded in 1826 that occupies 203,245 sf. Consisting of three buildings of 71,288 sf, 152,800 sf and 234,848 sf, the property is Lincoln's second acquisition from Mountain West.

"With a 93% occupancy rate, we feel this is a very attractive stabilized investment for Lincoln," says David Krumwiede, executive vice president of Lincoln's Western Region. "Acquisitions like this complement our development activities in which we delivered over one million sf of product in the second quarter."

The asset will be managed by Lincoln's property management division and leased by Bo Mills and Mark Detmer of Cushman & Wakefield of Arizona Inc., who also brokered the sales transaction on behalf of both parties. According to Mills, the property received about 10 offers.