Graham Street Realty has acquired Cimmaron Industrial Park in the Scottsdale Airport Industrial submarket of the Phoenix metro area. The deal closed for a purchase price of $27.5 million. The property is currently fully leased.

GSR is purchasing the property from a partnership of two high net worth investors. As part of the transaction, GSR will retain the in-place property management company, Greater Airpark Realty Services, who will handle day-to-day operations, construction management, and property accounting.

Cimmaron comprises 94,800 rentable square feet of industrial space across a five-building, separately parceled project site totaling 6.73 acres. All five buildings were constructed in 1980 and have been well-maintained. The property provides small businesses with functional industrial suites, with approximately 40% office and showroom space and 60% warehouse space.  Scottsdale Airpark, the submarket where Cimmaron is located, comprises 7.1 million square feet near Paradise Valley, Kierland, and North Scottsdale.