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Scottsdale-based ATLAS Capital Partners (ATLAS) has sold a prime infill parcel to the City of Phoenix for $29.58 million. The city has earmarked the land for revitalization as part of its regional Rio Reimagined initiative and the RIO PHX plan, which will promote 20 miles along the Rio Salado/Salt River corridor as a local and regional destination.

Located at 3030 S. 7th St. in Phoenix, the 29.4-acre site currently houses a 42,469-square-foot industrial building with tenancy through 2028. ATLAS acquired the property in 2021 as a long-term hold investment and redevelopment opportunity.