The Jersey City, NJ-based REIT also sold 700 Horizon Drive to VEREIT of Phoenix. The 120,000-square-foot building that boasts similar amenities as 600 Horizon Drive, including advance fiber-optics, is leased to AAA.

Deloitte LLP predicts overall 2018 holiday sales will climb anywhere from 5% to 5.6%, while e-commerce sales will soar between 17% to 22%.

Since P3 Properties acquired the four-building complex last year, occupancy has risen more than 13 percent, according to its owners.

While Phoenix was late to recover after the recession, it will now benefit from an extended runway with growth projected for the next several years.