SunCap Property Group Sells Metro Phoenix Industrial Asset The company developed the 135,745-square-foot property as the first building of its Gilbert Spectrum Business Park. Jan132021 Image courtesy of Cushman & Wakefield SunCap Property Group has sold a 135,745-square-foot light industrial building forming part of its 63-acre Gilbert Spectrum Business Park in Gilbert, Ariz. Boston-based GID Industrial paid $23.2 million for the Class A asset which was fully leased at the time of close. Cushman & Wakefield negotiated on behalf of the seller. SunCap developed the facility on nearly 9 acres at 196 S. McQueen Road as the first building of the Spectrum industrial campus, financing the construction with a $9.7 million loan from Delaware Life Insurance Co., according to CommercialEdge. Completed in 2019, the one-story property features a 32-foot clear height and 40 dock doors.