Canadian investment firm acquires fully leased distribution building in Phoenix Article originally posted on CoStar on June 2, 2026 Canadian investment firm Belkorp has acquired a distribution building in Phoenix from Oxford Properties Group for $44.15 million, or approximately $253 per square foot. The two-story, 174,801-square-foot building at 3809 E. Watkins St. was constructed in 1996. The property is fully leased to PillPack, which has occupied the entire building since November 2018. The lease runs through August 2030. PillPack is a part of Amazon’s pharmacy service and packages customer medications. Oxford previously acquired the building as part of a portfolio transaction in September 2021. Belkorp is a multigenerational, family-owned investment company with origins dating back to the late 1940s, according to the company’s website, with operations in both Canada and the United States. For the record Will Strong, Phil Haenel, Foster Bundy, Molly Miller, Jack Stamets, Madeline Warren and Michael Matchett of Cushman & Wakefield represented the seller in the transaction.