By Roland Murphy for AZBEX
ATLAS Capital Partners and development partner Hawkins Development Company have acquired 38 acres in Mesa’s Elliot Road Tech Corridor for nearly $13.8M.
In its March 26 meeting, the Mesa Planning and Zoning Board approved a preliminary plat and recommended approval of a rezoning request for the property at 4140 S. Signal Butte Road.
Referred to as ATLAS Exchange in the company’s purchase announcement and Atlas – Mesa Eastmark in municipal project documents, the industrial development is planned as a “four-building, Class A industrial project… differentiated by its low-coverage building designs with large, secured and screened yards, offering operational flexibility to an increasingly diverse Arizona industrial market,” according to ATLAS.
The project narrative says three of the parcels will be light industrial, with the fourth planned as a build-to-suit for Tesla. Planned amenities include pickleball courts and shaded ramadas.
The building breaks down as:
- Building A: 90KSF,
- Building B: 75KSF,
- Building C: 49.95KSF and
- Building D: 40KSF.
The company’s announcement said the development will “deliver a modern combination of appropriately sized, high-finish buildings with large screened and secured yards. This style of product is virtually nonexistent in metro Phoenix, yet is in high demand with the ever-evolving industrial landscape.”
ATLAS Exchange will be built with a focus on single-tenant users. The company said lease negotiations are in process with several prospective tenants, with the project narrative specifically identifying Tesla as the planned user for Building D. JLL’s Pat Harlan and Steve Larsen are the leasing brokers and also represented ATLAS and seller Brookfield Properties in the land sale.
The company announcement said construction is expected to begin in Q3. According to the submitted project documents, the design firm is Cawley Architects. Kaeko is the civil engineer. Landscape architecture is by T.J. McQueen & Associates, Inc., and the project is represented by Withey Morris Baugh, PLC.
