MESA, AZ – The partnership of Wharton Industrial and Madison Ventures Plus has secured $224 million in acquisition and construction financing for a 1.5-million-square-foot, master-planned industrial park in Mesa, AZ.
The companies obtained the loan from MSD Partners L.P., which was formed by the partners of MSD Capital L.P., the family investment office for Dell Technologies' founder and CEO, Michael Dell.
The class A industrial park, titled The HUB @ 202, will comprise 11 buildings. Located in Mesa, AZ's Southeast Valley submarket, the development will be situated on 101 acres of land.
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Construction on The HUB @ 202 is expected to commence in Q2 2022.
Serving as the exclusive advisor to the partnership was the Cushman & Wakefield capital markets team of John Alascio, Dave Karson, Chris Moyer, Will Strong, Kirk Kuller, TJ Sullivan, Chuck Kohaut and Zachary Smolev.
"The HUB @ 202 presented a compelling opportunity for the capital markets to invest in the Southeast Valley region of Phoenix, one of the top markets for industrial commercial property sales since 2019," says Alascio. "We are proud to have represented this strong partnership and extremely pleased with the full-stack financing secured from an institutional capital provider in MSD."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
