DIV’s first property within the Phoenix market will function a mixture of Class A buildings supposed for Fortune 100 tenants. Picture courtesy of DIV Industrial
DIV Industrial has acquired 47.4 acres of land in Goodyear, Ariz., for the event of Sarival Enterprise Park, an industrial campus that’s set to measure 848,000 sq. toes. Groundbreaking is scheduled for the primary quarter of 2024, with completion anticipated by 2025.
The deal marks DIV’s entry within the Phoenix market. The developer bought the land from a personal vendor for $9 million, public information present, with Lee & Associates representing each events. Silverback Capital Companions offered $6 million in financing, whereas the vendor financed the transaction with a $1 million carry-back mortgage, the identical information present.
The Lee & Associates workforce included Principals Stein Koss and Tom Louer. The duo may even lead the advertising and marketing efforts for the property.
The economic campus is deliberate to embody 5 buildings that can vary between 135,000 and 235,000 sq. toes. Every constructing will function 3,600 amps of energy, two drive-in doorways, ESFR sprinkler methods, in addition to workplace house. A complete of 734 automobile parking areas and 82 trailer spots can be out there.
All amenities can be developed to satisfy LEED certification. The primary three buildings will comprise 24 dock-high loading doorways, 135-foot truck courts and 32-foot clear heights. Constructing 4 will embody 22 dock doorways with 36-foot clear heights and 135-foot truck courts, whereas Constructing 5 is ready to function 34 loading doorways, 36-foot clear heights and 240-foot truck courts.
The Class A campus will rise on the intersection of Sarival Avenue and MC-85, south of Interstate 10 and roughly 4 miles from Phoenix-Goodyear Airport. Downtown Phoenix and downtown Glendale are some 23 miles northeast.
In January, DIV Industrial introduced plans for El Dorado Valley Logistics Heart, a 1.7 million-square-foot industrial campus in Henderson, Nev. Thought-about the biggest industrial asset within the submarket, that property will comprise two buildings ranging between 600,000 and 1 million sq. toes.
Phoenix’s regular industrial pipeline
In line with a CommercialEdge report, Phoenix stays one of many strongest industrial markets throughout the U.S. As of October, 47.3 million sq. toes of business house had been beneath development, accounting for the biggest pipeline within the nation.
Earlier this fall, a three way partnership between Atlas Capital Companions and OakPoint acquired development financing for a 60,500-square-foot industrial challenge in Gilbert, Ariz. That facility is a build-to-suit, with Frito-Lay set to occupy the house for 10 years.
Creation and Clarion Companions are engaged on Park Algodon, a 1.3 million-square-foot industrial and retail improvement available in the market. Groundbreaking is scheduled by the tip of the 12 months, with completion anticipated in 2025.
