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CrossHarbor Capital Partners, a leading multi-strategy commercial real estate investor, and Creation, a Phoenix-based real estate development and alternative investment firm, announced today the close of a 15-acre acquisition in the sought-after industrial submarket of Tempe that will be turned into Source Logistics Center. Terms of the deal were not disclosed.

The site, formerly an RV/boat storage and office complex, is to be redeveloped as Source Logistics Center, a 144,885-SF industrial facility located on the southeast corner of Warner Road and Hardy Drive. The project will feature 32-foot clear heights and six acres of contiguous yard space, offering flexible options for material storage, trailer parking, and/or box truck or van parking to support last-mile delivery needs. Additionally, the site boasts a prime location in close proximity to the I-10 and Loop 101 Freeways and prominent frontage on Warner Road. Source Logistics Center is rail spur capable given its adjacency to a Union Pacific rail line, presenting a rare opportunity for tenants requiring rail access.