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Phoenix-based Creation has acquired 18 acres in Scottsdale, Ariz., with plans to assemble a 243,360-square-foot Class A logistics and manufacturing constructing dubbed Thunderbird Commerce Park.
The developer intends to interrupt floor on the $60 million undertaking later this yr, with completion anticipated in late 2024. LGE Design Group offered structure providers and LGE Design Construct will function basic contractor.
The power will come on-line inside Scottsdale Airpark, a 8.6-square-mile space across the Scottsdale Airport that’s dwelling to greater than 2,900 companies.
READ ALSO: Industrial Sector to Preserve Successful Streak in 2023
The event website is east of the southeastern nook of Scottsdale and Thunderbird roads, some 20 miles from downtown Phoenix. When full, the ability will characteristic 51 truck doorways, a 32-foot clear top ceiling, 130-foot truck courtroom depth, 4 twin charging pedestals for electrical automobiles and 322 automotive parking areas.
Grant Kingdon, who was not too long ago promoted to principal of Creation’s Mountain West area, mentioned in a ready assertion that the Scottsdale Airpark submarket is extremely supply-constrained and has among the many highest rental charges and tightest emptiness ranges within the Phoenix metropolitan space. Potential tenants may embrace firms within the aerospace, electrical automobiles, pharmaceutical and semiconductor sectors.
Creation’s improvement portfolio at present consists of $4.65 billion of tasks in Arizona, California, Colorado, New Jersey, New York, Tennessee and Texas. One in every of these tasks is a 1.4 million-square-foot industrial campus to take form in Gilbert, Ariz.
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