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A joint venture consisting of Creation RE + PE, CrossHarbor Capital Partners, and Amherst recently closed on the acquisition of a 16-acre office-to-industrial conversion redevelopment site in Tempe, AZ. The trade had a price of $13.5 mil.

The buyer plans to develop a brand-new, Class A shallow-bay industrial campus totaling 273.3k sf across three buildings. The new project has been named Nexus Commerce Center and is scheduled to commence construction in February.