A newly built, 1.2-million-square-foot warehouse in southeast Mesa that serves as a regional hub for Lowe’s has quietly traded hands in an off-market deal that brokers say ranks among the Valley’s biggest single-building sales this year.
CRG sold Building C at The Cubes at Mesa Gateway, a Class A facility that runs both bulk distribution and expedited delivery across the Phoenix metro. The deal, coordinated off market by Cushman & Wakefield, involved a fully leased, mission-critical asset that checked just about every box for institutional buyers chasing scale.
As reported by Connect CRE, the sale was announced June 15, 2026, with Cushman & Wakefield representing CRG and also securing the buyer. Connect CRE identifies Will Strong, Molly Miller, Jack Stamets, Michael Matchett and Madeline Warren as the brokerage team behind the transaction.
Property details and lease
Per Cushman & Wakefield's offering materials, the property at 7111 S. Crismon Road totals approximately 1,200,340 rentable square feet and was delivered in 2023. It is 100% leased to Lowe’s on a long-term deal that runs into July 2033, with renewal options on the back end.
The marketing packet calls out 7,200 amps of power, a fully air-conditioned warehouse, 197 dock-high doors and about 713 trailer stalls, signaling an operation designed for trailer-heavy, high-throughput logistics. Cushman also points out that in-place rents sit well below current market levels, giving the buyer a clear mark-to-market opportunity in the near term.
Why investors are paying up
Phoenix’s industrial market has been a magnet for capital targeting ultra-bulk product, with a string of multi-hundred-million-dollar trades resetting pricing across the Valley. Coverage from Commercial Property Executive and others shows buyers consistently paying premiums for big floor plates, heavy power and strong freeway access. The Cubes at Mesa Gateway checks each of those boxes, which helps explain why a 1.2-million-square-foot Lowe’s regional hub would sit squarely in institutional crosshairs.
Hadrian's factory next door
Next door, advanced-manufacturing firm Hadrian has committed to Building A, a roughly 270,000-square-foot plant that the state says represents about a $200 million investment and will add hundreds of jobs. The Arizona Commerce Authority tracked the investment announcement, while robot-packed Mesa mega-plant coverage spotlighted the facility’s opening and early hiring push. With both heavy manufacturing and bulk distribution on site, the campus presents a diversified industrial story that can appeal to a broader buyer pool.
What comes next for the campus
CRG continues to pitch the 268-acre site as a roughly 4-million-square-foot logistics and industrial campus, with both speculative and build-to-suit options still in play. With Building C now off CRG’s books, attention is expected to shift to the remaining ultra-bulk and mid-bulk buildings as investors and occupiers vie for tenant-backed cash flow and manufacturing-capable infrastructure in one of the region’s hottest industrial corridors.
