Transwestern Investment Group has snapped up the I-10 Innovation Center, a fully leased, two-building industrial park in Tolleson, for $94.13 million. The transaction, reported March 27, 2026, marks one of the larger recent industrial trades in the West Valley.
Deal details
In a Feb. 17 press release, Transwestern said the complex totals 662,804 square feet and sits at 9400 Latham Street in Tolleson, just off Interstate 10 and Loop 101. Building A is a 402,015-square-foot cross-dock with 36-foot clear heights and a 190-foot truck court, while Building B comes in at 260,789 square feet, rear-load, with 32-foot clear heights, according to Transwestern Investment Group.
Price and seller
CoStar reported that Transwestern bought the park from EQT Real Estate for $94.13 million, or about $142 per square foot. That pricing lands the deal squarely in the thick of recent Phoenix-area industrial trades.
Market context
The Phoenix industrial machine has been busy. Cushman & Wakefield's Q4 2024 market report logs record completions of 42.9 million square feet last year and calls the Southwest Valley, which includes Tolleson, one of the metro's most active submarkets. The same report shows recent sale comps ranging roughly from about $112 to $208 per square foot, which puts the I-10 Innovation Center's $142 per square foot near the middle of local comparables, per Cushman & Wakefield.
Buyer rationale
"This acquisition reflects our focus on high-quality logistics assets in markets supported by durable demand drivers and constrained infill supply," Mike McKenzie, director of acquisitions at Transwestern, said in the firm's announcement. The release notes that the purchase was made on behalf of a separately managed account, signaling a long-term ownership strategy for the park, according to Transwestern Investment Group.
Why Tolleson matters
Tolleson sits with direct frontage on I-10 and quick access to Loop 101, which makes it a natural launch pad for westbound distribution and last-mile logistics. Local coverage of the deal highlighted the park's freeway visibility and full occupancy as key factors that helped pull in institutional money, per AZ Big Media.
