PHOENIX-When Lincoln Property Co. delivered its 336,665-square-foot Lincoln Commerce Park 2 to market in 2007 it was, in the words of Lee & Associates’ Jeff Conrad, a perfect time to come to market. “The market was ramping up and on fire, and they quickly leased up the bulk of the project,” says Conrad, who handles the industrial property’s leasing with Lee & Associate colleague Allen Lowe.

Then came the financial meltdown. Though Lincoln Property kept the property at 2115-2145 S. 11th Ave. stable during much of the downturn, when the company sold it to Cornerstone Realty Advisors LLC in spring 2012 for $26.1 million, vacancy was close to 30%.

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