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- Captiva Partners Expands to Phoenix with Key Acquisition
Captiva Partners Expands to Phoenix with Key Acquisition
Slice of Real Estate Team
January 21, 2025
Key Highlights:
Captiva Partners acquires a 40,075 sq. ft. multi-tenant industrial property in Tempe, Arizona.
Property to be rebranded as "First Street Commerce Center" with planned upgrades.
Captiva’s entry into Phoenix aligns with the market’s rapid growth and strong industrial demand.
Source: Business Wire
Notable Quotes:
“First Street Commerce Center represents an ideal opportunity for us to apply our proven approach to repositioning infill multi-tenant industrial properties. Its location and features align perfectly with our investment criteria.”
“This transaction highlights our firm’s commitment to building strong relationships and focusing on meeting our clients’ goals. Captiva Partners recognized the unique value of this property, executed on a tight timeline, and their plans for its future will make a meaningful impact in Tempe.”
Why This Matters:
This acquisition underscores Captiva Partners' strategic growth into high-demand markets like Phoenix, characterized by rapid industrial demand and demographic expansion. By rebranding and upgrading the First Street Commerce Center, Captiva demonstrates its commitment to revitalizing underutilized assets and meeting the needs of modern industrial tenants. Tempe’s robust economic environment, excellent infrastructure, and limited industrial supply offer a unique opportunity for Captiva to establish a strong foothold in the region.