Machine Investment Group, in a joint venture with Miramar Capital and Axonic Capital, has acquired The Hub @ 202, a large industrial park in the Southeast Valley submarket of Phoenix. The property spans 1,271,390 square feet across 10 separate buildings and is positioned in what is described as one of the nation’s fastest-growing industrial and manufacturing corridors.
The Hub @ 202 is organized as a multi-building industrial campus, with individual facilities ranging from approximately 65,000 square feet to 270,000 square feet. The scale and variety of building sizes allow the campus to accommodate a range of industrial and manufacturing users, from mid-size space needs to larger bulk requirements, within a single park environment.
The new ownership plans to invest additional capital into the property to create move-in-ready industrial suites. That strategy indicates a focus on accelerating lease-up and reducing downtime for new tenants by delivering pre-improved spaces rather than shell-only product, while retaining the existing industrial positioning of the park.
The asset has seen recent capital markets activity prior to this trade. Cushman & Wakefield previously secured a $224 million acquisition loan on behalf of Wharton Industrial to purchase the same industrial park in 2022. That prior transaction underscored lender appetite for large-scale industrial product in this corridor and helped establish a financing benchmark for the campus.
For the current change of ownership, Cushman & Wakefield’s Will Strong led a team that coordinated the sale of The Hub @ 202. Leasing advisors Ken McQueen, Chris McClurg, Blake Peters, and Jack Sims of Lee & Associates were also involved, providing leasing expertise alongside the sales effort.
Additionally, Cushman & Wakefield’s Equity, Debt & Structured Finance team, led by Brian Share, secured financing on behalf of the new joint venture ownership. The combination of a large-scale industrial acquisition, value-add capital investment plans, and coordinated sales, leasing, and financing efforts highlights the continued institutional focus on the Southeast Valley industrial corridor in Phoenix.
