Trademark ATLAS low-coverage development is fully leased to Frito-Lay (PepsiCo)

Gilbert, Arizona – (November 14, 2025) — Scottsdale-based ATLAS Capital Partners (ATLAS) has announced the $26.8 million sale, or $443 per-building-square-foot, of a Gilbert, Arizona industrial project. The property, which serves as a model for the company’s growing portfolio of best-in-class, low-coverage developments, closed at a 5.28% CAP, achieving the lowest CAP rate and highest price-per-square-foot this year for a Phoenix industrial building sale.

The 60,500-square-foot building sits on 8.16 acres at 3797 S. Silverado Court in Gilbert, Arizona. It fronts the Loop 202 Santan Freeway just north of Germann Road, and is minutes from Chandler Municipal Airport.

The single-tenant building is fully leased to Frito-Lay, a division of PepsiCo.

ATLAS purchased the Gilbert land site in 2022 and initiated a low-coverage development plan to accommodate the property’s unique shape. The approach quickly attracted the attention of Frito-Lay, leading to a long-term, full-building build-to-suit lease achieving a market-high rental rate.

“A colleague spotted this oddly shaped parcel during a weekend drive through Gilbert. Most developers would have passed on its odd geometry, which doesn’t align with a traditional industrial site, but we recognized the potential,” said ATLAS CEO Chris Walton. “That creativity resulted in a distinctive project the market was waiting for – even if it didn’t know it yet – and became the beta for our now regional, low-coverage strategy. In the process, it gave Frito-Lay a new industrial configuration that hadn’t existed to date.”

The ATLAS low-coverage strategy integrates institutional-grade industrial buildings with substantial outdoor yards that are secured, screened, paved and lit. This delivers the operational versatility today’s industrial users demand – from logistics giants to regional suppliers and contractors.

The Silverado Court building features a 161-foot building depth with 28-foot clear height, 15 dock-high doors, two grade-level doors and 5,000 square feet of office. It offers immediate Loop 202 access via the Gilbert Road and Lindsay Road interchanges, and is minutes from 3.5 million square feet of retail and restaurant amenities at the intersection of Gibert and Germann roads.

Cushman & Wakefield represented ATLAS in the building sale. Colliers represented the buyer, Simone Charitable Foundation.

“Land-heavy industrial developments remain undersupplied in metro Phoenix, though demand is rising sharply,” said ATLAS COO and General Counsel Dan Gauthier. “This project has been a resounding validation of our low-coverage thesis, first through a full-building pre-lease to Frito-Lay and then through a highly successful sale. We’re now scaling this product type across strategic Mountain and Sun Belt markets, beginning with our next major project, ATLAS Exchange.”

ATLAS Exchange is the company’s largest land acquisition to date, spanning 38 acres within Mesa, Arizona’s Elliot Road Tech Corridor and the Eastmark masterplanned community. The project includes four modern, high-finish buildings ranging from 40,000 to 90,000 square feet. With lot sizes up to 12 acres, each freestanding building offers generous secured, paved and lit yards. The project also includes amenity-rich additions such as ramadas and pickleball courts, with proximity to the Loop 202 and Mesa Gateway Airport, and corporate neighbors such as Meta, Apple, Google, Amazon, Boeing and more.

ATLAS Exchange offers built-to-suit options, for-sale and for-lease buildings, and land sites for sale. For more information, contact exclusive listing brokers Pat Harlan and Steve Larsen of JLL, at 602.282.6300.

Since its establishment in 2020, ATLAS has developed and acquired more than $450 million in projects, including ATLAS Exchange, the Frito-Lay development, and an approximately 119,950-square -foot warehouse facility in Goodyear, Arizona, leased to Fieldcore Services, a subsidiary of General Electric.

Financing secured for 172,244-square-foot Tailwinds at Gateway facility

PHOENIX, (Nov. 14, 2025) –  JLL Capital Markets announced today it has arranged $31 million in acquisition financing for Tailwinds at Gateway, a 172,244-square-foot Class A industrial facility located in Mesa, Arizona.

JLL represented the borrower, McCarthy Cook & Co., to secure a balance sheet loan through a money center bank.

The newly constructed facility, completed in 2023, spans 14.03 acres at 8017-8121 East Pecos Road in the Mesa Gateway submarket. The property comprises 10 buildings housing 24 tenants across unit sizes ranging from 2,286 square feet to 27,833 square feet, with an average suite size of 6,625 square feet.

Tailwinds at Gateway features best-in-class amenities, including 22-foot clear heights, 48 grade-level doors, nine dock-high doors, and 345 parking spaces. All warehouse spaces are fully air-conditioned, with secure truck courts and convenient access via East Pecos Road and South 80th Street.

The development achieved full occupancy within 24 months of construction completion. The property’s diverse tenant roster includes nationally and internationally recognized tenants spanning logistics, manufacturing, and security technology sectors.

The Southeast Valley submarket has emerged as a national leader for semiconductor, aerospace and defense, electric vehicle and solar manufacturing industries. The region’s proximity to Arizona State University, skilled labor availability and business-friendly environment have attracted diverse industrial users seeking modern, well-amenitized space.

The JLL Capital Markets team was led by Senior Director Jason Carlos, along with Analysts Nick Englhard and Lilley Kroll.

“The rapid lease-up and successful financing of Tailwinds at Gateway reflects both the strength of Phoenix’s small bay industrial fundamentals and the growing institutional appetite for stabilized, income-producing assets even with perceptions around supply-concerns in certain markets,” said Carlos. “With most small bay industrial groundbreakings effectively halted due to elevated development costs, existing Class A properties like Tailwinds are increasingly scarce and valuable.”

The Crown Jewel of Tucson™. We make Memories. We make Connections. We make Tucson Proud.

Tucson, AZ (November 13, 2025) — The Fox Tucson Theatre is bursting at the seams with a broad selection of holiday shows beginning on November 28th with Darlene Love through New Year’s Eve with the great Bruce Hornsby to close out 2025. In between, there are shows for the kids, classic holiday movies like It’s a Wonderful Life, Elf, and A Christmas Story. Stars like Suzy Bogguss, LeAnn Rimes, Jake Shimabukuro and Dave Koz, and groups like The Lettermen, Tower of Power, Mariachi Sol de Mexico, and Squirrel Nut Zippers share their holiday favorites and more. Tickets and additional information are available at www.foxtucson.com.

’TIS THE SEASON

Nov 28, 7:30 pm – Darlene Love – Love for the Holidays
Rolling Stone Magazine has proclaimed Darlene Love to be “one of the greatest singers of all time.” Paul Shaffer says it even more concisely: “Darlene Love is Rock N’ Roll!” Inducted into the Rock and Roll Hall of Fame in 2011 by Bette Midler, Darlene performed with Bruce Springsteen and continues to deliver powerhouse holiday performances.

Dec 4, 7:30 pm – An Evening with Suzy Bogguss – A Swingin’ Little Christmas
A Swingin’ Little Christmas is a fun-filled evening of classic holiday tunes, original songs, and the timeless hits from Suzy Bogguss’ career. Accompanied by her Nashville band, Suzy brings charm, humor, and heartfelt vocals to create an enchanting night the whole family will love.

Dec 5, 7:30 pm – Jake Shimabukuro – Holidays in Hawaii
Ukulele virtuoso Jake Shimabukuro brings the warmth and joy of the islands to Tucson in a festive performance celebrating the spirit of aloha. This holiday concert delivers music, storytelling, and the infectious energy of one of Hawaii’s most beloved artists.

Dec 6, 3 pm and 7 pm – Elf (2003)
Buddy the Elf (Will Ferrell), raised at the North Pole, travels to New York City to find his real father and spread Christmas cheer. A modern holiday classic filled with laughter and heart.

Dec 11, 7 pm – A Christmas Story (1983)
Ralphie Parker dreams of finding a Red Ryder BB gun under the tree. This nostalgic favorite captures the humor and innocence of a 1940s Christmas.

Dec 12, 7:30 pm – The Lettermen Christmas
The Lettermen bring their smooth three-part harmonies to holiday favorites and timeless hits, continuing a legacy of musical excellence since 1961.

Dec 13, 7:30 pm – Tower of Power – Holidays & Hits Tour
For 55 years, Tower of Power has delivered the best in funk and soul music. The iconic band brings their trademark horn-driven sound and unmatched energy to the Fox stage for a night of hits and holiday grooves.

Dec 16, 7:30 pm – Dave Koz and Friends Christmas
GRAMMY®-nominated saxophonist Dave Koz returns to the Fox with the 28th Anniversary Christmas Tour featuring Jonathan Butler, Haley Reinhart, Casey Abrams, and Kayla Waters. A celebration of smooth jazz, soul, and holiday spirit.

Dec 18, 3 pm and 7 pm – It’s a Wonderful Life (1946)
Frank Capra’s timeless masterpiece starring James Stewart as George Bailey reminds audiences of the power of community, kindness, and purpose.

Dec 20, 7:30 pm – Mariachi Sol De México presents “José Hernández’ Merry-Achi Christmas”
Eight-time Grammy-nominated Mariachi Sol de México brings its festive holiday spectacular to Tucson, celebrating mariachi traditions with holiday flair.

Dec 21, 7 pm – Squirrel Nut Zippers Holiday Caravan Tour 2025
The Squirrel Nut Zippers return with a lively blend of jazz, swing, and holiday cheer in their raucous Christmas Caravan Tour. Expect classics, originals, and high-energy nostalgia.

Dec 22, 7:30 pm – LeAnn Rimes Greatest Hits Christmas Tour
Two-time GRAMMY® Award winner LeAnn Rimes performs her greatest hits alongside holiday favorites. With over 48 million albums sold, Rimes continues to captivate audiences worldwide.

Dec 31, 8 pm – An Evening with Bruce Hornsby: A New Year’s Eve 20th Anniversary Celebration
Bruce Hornsby closes out the year with a special performance celebrating two decades of creativity and collaboration across genres—a perfect finale to 2025 at the Fox.

OTHER DECEMBER SHOWS

Dec 5, 9:45 am and 11:45 am – Look Out! Science is Coming!
Join the fantastically funny Doktor Kaboom for a hilarious exploration of the modern scientific method. Expect mind-blowing experiments, audience participation, and nonstop laughter.

Dec 7, 7 pm – KANSAS
With a legendary career spanning five decades, KANSAS remains one of America’s most iconic rock bands, selling more than 30 million albums worldwide.

Dec 10, 10:30 am – Storytime at the Fox!
Bring children for a magical reading experience with live storytelling, big-screen illustrations, and educators from Make Way for Books. A free event with registration required.

Dec 19, 8 pm – Allman Betts Family Revival
Hosted by Devon Allman and Duane Betts, sons of Allman Brothers Band legends, this concert celebrates the enduring legacy of Southern rock with an all-star lineup of musicians.