Phoenix industrial portfolio sold to an Ares Real Estate fund

PHOENIX, Oct. 1, 2025 –  JLL Capital Markets announced today the sale of Marigold Two-Pack, a two-building industrial portfolio totaling 237,765 square feet located in premier infill submarkets of Metro Phoenix.

JLL represented the seller in the sale to an Ares Real Estate fund. Ares Industrial Management, a leading owner and operator of logistics facilities, will manage the portfolio.

The portfolio consists of a 100,000-square-foot property in the Southwest Valley submarket and a 137,765-square-foot asset in the Airport Area submarket. The Marigold Two-Pack offers timeless and functional design and amenities, including secured and gated yards, 22- to 30-foot clear heights, ample dock-high and grade-level loading, excess parking and low office build-out.

Both properties were fully leased at the time of sale to a total of six tenants. The portfolio's tenant base represents diverse industries, including logistics, asset management, wholesale distribution, automotive parts and HVAC equipment.

Location advantages prove critical to the portfolio's consistent performance. The 100,000-square-foot property sits less than one mile west of the new Loop 202 expansion and within five miles of both Interstate 10 and Interstate 17, providing 13-minute access to Sky Harbor International Airport. The other facility benefits from the Airport Area's coveted infill positioning, located just 0.6 miles from Interstate 17 and 2.3 miles from Sky Harbor Airport, the nation's ninth-busiest passenger facility.

The JLL Capital Markets Investment Sales team of Senior Managing Director Ben Geelan and Senior Director Greer Oliver represented the seller.

"Institutional capital continues to recognize the compelling fundamentals of Phoenix's infill industrial submarkets," said Oliver. "The Marigold Two-Pack offers investors the best of both worlds – stable cash flow from quality tenants in proven locations, combined with significant mark-to-market opportunity as rents reset to current market levels. These supply-constrained infill positions provide the scarcity and growth characteristics that institutional buyers value most today."

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500 company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAY^SM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.