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January 12, 2021 Comments (0) Views: 413 Phoenix, Phoenix & Southwest News

Artis REIT Divests Phoenix HQ Facility for $27M

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Canadian-Based Artis Real Estate Investment Trust sold a 130,282-square-foot industrial manufacturing/R&D asset in Phoenix to Mapleton Investments, a Los Angeles-based family office, for $27 million. The fully-leased single-tenant facility has served for decades as the North American HQ and global training facility for ASM America, Inc., a supplier of semiconductor process equipment.

The mission-critical, building at 3440 E. University Dr. includes highly specialized improvements such as clean room space and extensive air and water filtration systems. The two-story, institutional-quality building is also near a liquid nitrogen supply line and gas storage tanks within the Southbank Business Park.

Mapleton’s Adam Nathanson says, “We are excited to complete our first commercial transaction in Phoenix and believe highly in the market fundamentals. With real estate holdings currently dispersed throughout California, Washington, Oregon, and Nevada, it is truly satisfying to plant a flag in Arizona.”

Cushman & Wakefield’s Chris Toci and Chad Littell represented the seller.

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