The Executive Center at Southbank, a seven-building office business park near Phoenix Sky Harbor International Airport, has been acquired. Plans are underway to transform the park into a dynamic light industrial hub. The acquisition, costing over $14 million, involved a significant transaction. The property, currently about 60% leased, is being marketed to industrial users. Initial plans for the repositioning include adding overhead doors, redoing the parking lot for better truck maneuverability, and potentially creating retail pads for coffee or restaurant users. The site’s transformation aims to cater to changing market demands, including repurposing underutilized space for various uses like flex industrial or medical offices.
