By IndiCap and AECOM-Canyon Partners
IndiCap, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48M acquisition of two parcels of land totaling 113 acres in Mesa’s Eastmark master-planned community.
The project, Eastmark Center of Industry, will contain 10 buildings totaling more than 1.6MSF of mid-bay and cross dock industrial buildings. Cornerstone companies assisting in the land acquisition and development include Layton Construction, Kimley Horn, Deutsch Architecture and Snell & Wilmer. Pat Harlan, Steve Larsen and Jason Moore from the Phoenix office of JLL represented IndiCap in its site selection and land acquisition.
AECOM-Canyon Partners is providing joint venture equity capital and development expertise to the project.
Buildings at Eastmark Center of Industry will range from 83.2KSF to 426.4KSF with 30’ to 36’ clear height and 160’ to 500’ building depth. Future phases may include the opportunity for build-to-suit. The project is located in the Elliot Road Technology Corridor.
The IndiCap team will continue their pursuit of industrial land in the Phoenix metroplex. IndiCap has multiple new industrial projects in its pipeline totaling 37 buildings with more than 8MSF spread out through the Loop 303 Corridor, Central Phoenix, Mesa, Gilbert and Casa Grande.
(Editor’s Note: The Eastmark Design Review Committee approved preliminary elevations in December, and the Mesa Planning and Zoning Board approved a site plan review for the project earlier this year.)