JLL has completed a land deal that assembles 215 acres at I-10 and 83rd Avenue in Phoenix for TEN – a mega $300M mixed-use business park. When complete, the project will become the largest freeway industrial employment site in Phoenix.
Irwin G. Pasternack + Associates serves as the property owner, architect and developer.
The team expects to have at least one major, million-plus-square-foot industrial building under construction within the next 12 months.
Located near the confluence of I-10 and the Loop 101, TEN offers significant building opportunities. The master plan for the shovel-ready freeway site includes retail/commercial services along 83rd Avenue and modern build-to-suit industrial solutions scalable to 1.5MSF.
TEN enjoys direct access to the 1.5 million-person West Valley workforce and corporate neighbors including Amazon, Cardinal Health and PetSmart. It also offers Foreign Trade Zone capability, reducing both real and equipment taxes by 72 percent.
“Phoenix’s long-term economic health depends in part on its ability to attract, accommodate and retain industry as part of a balanced and diversified economy,” said Phoenix District 7 Councilman Michael Nowakowski. “This assemblage of land, with its high visibility and accessibility, is perfect for attracting new businesses that will be able to operate efficiently and profitably.”
Active in the market since the mid-1970s, one of Pasternack’s most recent project is the 450KSF Living Spaces industrial build-to-suit at 67th Avenue and I-10.
“TEN will deliver a similar inventory – buildings of 500KSF and up with modern, state-of-the-art amenities,” said Hertzberg. “We are early in Phoenix’s industrial rebound, but it is happening. The time is right to bring this site to market.”