Axonic Capital Joins Joint Venture Real Estate Acquisition of 1.27M-SF Industrial Park in Phoenix
PHOENIX — Axonic Capital has joined a joint venture with Machine Investment Group and Miramar Capital in the acquisition of The Hub @ 202, a 1,271,390-square-foot industrial park comprising 10 buildings in Phoenix's Southeast Valley, the firm announced June 3, 2026.
The partners plan to deploy capital into the property to deliver move-in ready industrial suites, targeting what the firm described as broad tenant demand. No transaction price, price per square foot, loan terms, or occupancy rate were disclosed in the announcement.
Acquisition Details
The Hub @ 202 is a 10-building campus spanning more than 1.27 million square feet in the Southeast Valley submarket of Phoenix. The joint venture's stated business plan centers on deploying capital to create move-in ready industrial suites designed to attract a wide range of tenants. No additional details about the repositioning timeline or tenant pipeline were disclosed.
The joint venture structure brings together three firms — Axonic Capital, Machine Investment Group, and Miramar Capital — in a shared ownership arrangement. The specific equity contributions or roles of each partner were not disclosed.
Phoenix Market Fundamentals
Axonic Capital cited several demand drivers supporting the Phoenix industrial market. The firm pointed to strong population growth, a deep labor pool, and proximity to major manufacturing investment as factors underpinning the region's industrial real estate fundamentals.
Among the demand anchors the firm referenced is TSMC's announced expansion of up to $165 billion in semiconductor fabrication capacity in North Phoenix.
Value-Add Strategy and Tenant Demand
By preparing suites ahead of tenant commitments, the joint venture is positioning The Hub @ 202 to compete for tenants that prioritize speed to occupancy, according to Axonic Capital's announcement.
About the Joint Venture Partners
Axonic Capital is a New York-based investment firm. Machine Investment Group led the acquisition, according to a separate announcement cited by Axonic Capital. Miramar Capital also participated as a joint venture partner. No additional biographical or operational details about the firms were included in the source announcement.
The full acquisition announcement was published by AZ Big Media and linked from Axonic Capital's website.
Financial terms of the transaction, including sale price, capitalization rate, and financing details, were not disclosed.