ICM Asset Management Announces the Sale of Mack Innovation Park Phase I
(January 2026 – Phoenix, Arizona) ICM Asset Management is pleased to announce the successful sale of Mack Innovation Park Phase I, three newly constructed, Class A industrial facilities totalling 332,479 square feet in Phoenix, Arizona.
Completed in 2025 in partnership with Mack Real Estate Group (“MREG”), Phase I consists of three state-of-the-art industrial buildings located within the highly sought-after Deer Valley submarket in North Phoenix – an infill location with immediate access to Interstate 17 and proximity to Loop 101. At the time of sale, the three buildings were 100% leased to high-quality tenants, including suppliers supporting the region’s advanced manufacturing and semiconductor ecosystem, with a weighted-average lease term of approximately 8.5 years.
“Mack Innovation Park Phase I reflects the disciplined execution of our strategy to develop high-quality industrial assets in supply-constrained, high-growth U.S. markets,” said John Courtliff, CEO and Portfolio Manager at ICM Asset Management. “This successful sale underscores the quality of the asset and tenant base, while reinforcing the embedded value across our U.S. industrial platform. Outcomes like this validate our long-term approach and support investor interests across ICM Property Partners Trust and ICM U.S. Co-Investment LP II, even as we remain measured and deliberate in how capital is returned and redeployed in the current market environment.”
Mack Innovation Park is located approximately eight miles (13 kilometres) from Taiwan Semiconductor Manufacturing Company’s (TSMC) multi-phase Arizona campus, positioning the asset within one of the most strategically significant industrial corridors in the U.S. The Deer Valley submarket is characterized by high barriers to entry, limited new supply, and historically low vacancy, supported by strong population growth and sustained investment in advanced manufacturing across the Phoenix metropolitan area.
Phase I was developed in partnership with Mack Real Estate Group (MREG), an institutional real estate investment firm with roots in several Mack family real estate businesses, dating back to the 1960s. Today, MREG’s vertically integrated equity and credit businesses have offices across the U.S. including New York, Seattle, Phoenix, Miami and Raleigh. MREG’s equity business specializes in the development and ownership of multifamily, industrial, and mixed-use properties located in gateway and high-growth markets. Our partnership with MREG reflects a shared focus on disciplined development, thoughtful capital management, and long-term value creation across market cycles.