By BEX Staff for AZBEX
Nicola Wealth Real Estate and Hopewell Development have acquired two industrial development sites in metro Phoenix. The two sites total 32 acres and have capacity for six buildings totaling 486.2KSF.
The first is a 17.79-acre property in north Mesa adjacent to Falcon Field Airport. The site is located south of the North Loop 202 freeway and “will deliver much-needed modern multi-tenant industrial product for small to mid-bay users,” according to a joint press release. When completed, Falcon202 Commerce Park will provide three buildings totaling 264.5KSF.
CBRE’s Mike Parker handled the purchase and will be managing leasing for the project. Hopewell is currently working on the entitlements process, and construction start is targeted for early next year.
In the Peoria transaction, the partners have purchased the two remaining infill sites in the Empire Business Park. They plan to build three buildings ranging from 65KSF to 93KSF. The total built area will be 221.7KSF upon completion. The site is currently under construction, according to the announcement. Brian Gleason and Bonnie Haley with Colliers International brokered the transaction and will handle leasing for the site.
