Sierra Ridge Capital Acquires 123,032 SF Industrial Building in Phoenix for $31 Million

Sierra Ridge Capital, an investment firm based in Los Angeles, has purchased an industrial property located at 3137 East Elwood Street in Phoenix for $31 million. The seller was Arizona-based 3137 East Elwood LLC. Newmark brokers Gary Cornish, Nico Burgarello, Barry Gabel, CJ Osbrink, and Chris Marchildon represented the seller in the transaction.

The 123,032-square-foot building, constructed in 1995 and renovated in 2026, is situated on 9.8 acres within Phoenix’s Southbank Business Park. At the time of sale, the property was fully occupied by three tenants. Key features of the facility include a 22-foot clear height, 10 oversized grade-level loading doors, a truckwell, secure yard space, heavy power capacity, and full HVAC coverage.

This acquisition highlights continued investment activity in the Phoenix industrial market, reflecting demand for well-located, functional assets.