Source: Trammell Crow Company
Trammell Crow Company and joint venture partner Principal Real Estate Investors announce the acquisition of a 16.2-acre land parcel located at SEC 23rd Avenue and Alter Way in the Corridors master-planned business park in Deer Valley. The venture plans to develop Corridors Industrial Park, which will consist of four, Class A speculative industrial buildings.
Construction is scheduled to begin in Q2 2015 and be complete by the end of the year.
“We are thrilled to be delivering our second industrial project to the Deer Valley submarket with our long standing partner, Principal Real Estate Investors,” said Paul Tuchin, Vice President of Trammell Crow Company’s Phoenix Business Unit.
The four industrial buildings, which will be constructed simultaneously, will target tenants seeking spaces of 6,000 to 80,000 square feet. The park will feature a combination of ramp-up and dock-high loading with clear heights ranging from 24’ to 30’.
The project is a quarter mile east of the Interstate 17 full diamond interchange at Pinnacle Peak Road and less than one mile south of 1.1MSF of retail amenities. The project has access to local, regional and national markets via an integrated network of interstate and intrastate freeways.