Sunbelt Investment Holdings Inc. will double the size of its Deer Valley Business Park development south of the Deer Valley Airport.
Phase I – a three-building 252.2KSF spec development on 80 acres at Rose Garden Lane and 7th Avenue – will be joined by a two-building Phase II totaling 243.3KSF and Phase III with three buildings totaling nearly 314KSF. SIHI bought the Phase I site in an Arizona State Land Department auction in 2019 for $22.4M and bought the 80 acres to the east for Phases II and III for $23.7M in a separate auction in October.
Construction on Phase I started in late October. The phases planned to the east will start construction after Phase I is finished, according to SIHI officials, and could be either build-to-suit for specific tenants or as additional spec industrial space.
CBRE Group Inc. is the leasing firm for the project. Balmer Architectural Group is the design firm for all three phases, and Willmeng Construction is the general contractor for Phases I & II. Phase III is not yet selected. (Source)
