A single tenant industrial building totaling 40,980 square feet in Phoenix, AZ purchased in September 2019 for $2,950,000 ($68 per square foot) in an off-market transaction.

The building was purchased in a sale-leaseback scenario with a 10-year lease in-place at closing. With a going-in 8.6% cap rate, Dunbar plans to hold the property in its portfolio for cash flow.