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Artis REIT Sells Single-Tenant HQ Facility to New Market Entrant, Los Angeles-based Mapleton Investments for $27 Million

PHOENIX, Ariz., December 21, 2020 – Cushman & Wakefield announced today the firm has represented the seller, Canadian-Based Artis Real Estate Investment Trust (“Artis”), in the disposition of a fully leased 130,282-square-foot industrial manufacturing/R&D asset in Phoenix, Arizona

3440 E University ASM

The mission-critical, single-tenant facility located at 3440 East University Dr. has served for decades as the North American headquarters and global training facility for the tenant, a leading supplier of semiconductor process equipment for wafer processing. The buyer was Los Angeles-based Mapleton Investments, which acquired the property for $27 million, or roughly $207 per square foot.

The investment sales team of Chris Toci and Chad Littell of Cushman and Wakefield’s Phoenix office handled the transaction.

The acquisition represents a new entry into the Phoenix metro market for Mapleton Investments, a multi-generational Los Angeles family office led by President and CEO, Adam Nathanson, and supported by Senior Vice President of Acquisitions, James Durand.

Artis had originally acquired the facility in June 2013 for an undisclosed price. The same dynamic that attracted Artis to this investment opportunity—highly specialized improvements that included clean room space and extensive air and water filtration systems for the tenant’s use as one of the world’s leading designers, builders, sellers, and servicers of semiconductor wafer processing equipment —drew Mapleton Investments to the asset.

“We are honored to have played a part in the growth that the tenant has enjoyed in this facility,” said Philip Martens, Executive Vice President—U.S. Region, Artis. “We originally purchased the asset for its durable and stable cash flow and recently renewed the tenant for the long term and are pleased to be handing the reins to Mapleton Investments as they continue stewardship of the asset,” said Martens.

“As a privately-held family firm investing across multiple asset classes in the Western States (California, Washington, Oregon, and Nevada), we are thrilled to plant a flag firmly in the heart of Metropolitan Phoenix, Arizona,” said James Durand, Senior Vice President of Acquisitions of Mapleton Investments. “As we toured the facility, it was clear the improvements and extreme pride of ownership in this facility,” added Durand.

“It was an absolute pleasure working with consummate professionals on both sides of the transaction,” commented Chris Toci, Executive Managing Director, investment sales, Cushman & Wakefield. “For this transaction to occur, it took the collective efforts of a very talented team, led by my partner, Chad Littell, and Marketing Coordinator, Taylor Shaw working ‘hand-in-glove’ with the Artis and Mapleton Teams,” said Toci.

“We are excited to complete our first commercial transaction in Phoenix and believe highly in the market fundamentals. With real estate holdings currently dispersed throughout California, Washington, Oregon, and Nevada, it is truly satisfying to plant a flag in Arizona,” said Adam Nathanson.

The two-story, institutional-quality building contains highly specialized improvements and enjoys proximity to a liquid nitrogen supply line and gas storage tank units within the Southbank Business Park.

About Cushman & Wakefield 

Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 52,000 employees in over 400 offices and approximately 60 countries. In 2022, the firm had revenue of $10.1 billion across core services of property, facilities and project management, leasing, capital markets, and valuation and other services. To learn more, visit or follow @CushWake External Link on Twitter.


Joshua Deale San Diego Communications Manager
Joshua Deale

Communications Manager • Costa Mesa

Mr. Deale leads strategic media relations and thought leadership efforts for the West Region markets, and oversees their online presence including managing article and social media efforts.

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