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Real estate investment firm buys Phoenix office building with plans for industrial redevelopment

Meritex acquires North Mountain Corporate Center for nearly $7.2 million
The roughly 109,300-square-foot North Mountain Corporate Center in Phoenix is set to be replaced with two industrial buildings totaling about 127,000 square feet. (CoStar)
The roughly 109,300-square-foot North Mountain Corporate Center in Phoenix is set to be replaced with two industrial buildings totaling about 127,000 square feet. (CoStar)
By Clarice King with
CoStar Research
February 27, 2026 | 4:15 P.M.

A real estate investment firm based in Minneapolis has acquired a vacant office building in Phoenix with plans to redevelop the property into an industrial park.

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