Constructed between 2005 and 2006, Lincoln Deer Valley and Lincoln Pinnacle Park offer 24- to 30-foot minimum clear heights, ample trailer storage and car parking. They are located approximately 2.5 miles from one another with direct access to I-17 and the Loop 101 freeway. Tenants also benefit from Foreign Trade Zone status, providing state and local tax incentives and on-site job training programs.

LPC serves as property manager for both projects and will continue do to so for the new owner. This continues a long-standing relationship between the companies that was established in 2013, when LPC sold Broadway 101 to a former entity of Industrial Property Trust for more than $77 million. LPC continues to manage the 11 building, 808,000-square-foot Broadway 101 industrial park as part of LPC's 8 million-square-foot local property management portfolio.

"Phoenix's industrial market is flush with active, growth-minded companies who have pushed industrial vacancy rates to near single-digit status," said LPC director of management services Alisa Timm, who directs the company's property management strategy. "Much of this activity is happening in the 5,000-square-foot to 50,000-suare-foot range–the precise type of tenants who occupy projects like Lincoln Deer Valley and Lincoln Pinnacle Park. This requires a broad understanding of property management, but it also creates very diverse opportunities for our team to shine."

LPC purchased the five-building portfolio in 2011 from Cornerstone Real Estate Funds as part of a strategy to purchase and stabilize core, institutional-grade industrial space. Through an aggressive leasing plan, LPC–in partnership with Steve Sayre, Pat Harlan and Kyle Westfall of JLL–improved the project from 70% to nearly 100% occupied.

The sale of Lincoln Deer Valley and Lincoln Pinnacle Park caps off a record-breaking year for the Phoenix office of Lincoln Property Company, which, since January 2015, has generated more than $271 million in metro Phoenix investment and development activity. This includes the company's recent, $44 million purchase of the historic Luhrs City Center in downtown Phoenix, the $58 million LPC-Oaktree Capital Management purchase of Biltmore Commerce Center in Phoenix, the $42.3 million disposition of Camelback Square in Scottsdale, AZ, and the $65 million LPC-Goldman Sachs purchase of Promenade Corporate Center in Scottsdale. It also includes the development and delivery of the $24 million Waypoint Building One office property in Mesa, AZ.

LPC is actively marketing pre-lease and/or design-build opportunities for Waypoint Building Two, and was selected to develop the first phase of class-A and mixed-use office space for The Grand, a 60-acre, urban mixed-use property within Papago Park Center earlier last year.