PHOENIX, ARIZ – Trammell Crow Company (TCC) today announced plans for a new Class A speculative commerce park in Metro Phoenix. The project will sit on 48 acres and be comprised of one to three buildings totaling approximately 700,000 square feet. The site is located on the Gila River Indian Community (GRIC), at the southwest corner of Loop 202 and 40th Street and positioned along the new South Mountain Loop 202 Freeway currently under construction with completion slated for by the end of the year. Construction of TCC’s commerce park is scheduled to commence in December 2019 and be complete September 2020.
“The South Mountain Loop 202 submarket is a newly emerging submarket given the 22- mile expansion of the Loop 202 Freeway, but already boasts tenants from a breadth of industries,” said Cathy Thuringer, a Principal with TCC’s Phoenix office. “This new access to and from the Southwest Phoenix and Southeast Valley submarkets will change the dynamic of travel for tenants and visitors to the area and provide excellent opportunities for product type optionality. This location benefit, along with the fact that supply and demand are in strong balance, signal to us that this new commerce park will be well received.”
The 48-acre park will front along the Loop 202 Freeway and the full diamond interchange at 40th Street is the first interchange west of Interstate 10. TCC will consider build-to-suit opportunities on all or a portion of the site which can accommodate buildings from 180,000 to 700,000 square feet in cross dock or rear load building configurations. Depending upon the configuration, buildings will feature a combination of ramp-up and dock-high loading with clear heights ranging from 28’ to 36.’
“TCC is very excited about the opportunity to be the first development on the Gila River Indian Community after opening of the South Mountain Loop 202 Freeway,” said Joe Ihrke, a senior vice president with TCC’s Phoenix office responsible for overseeing the development of the project. “We are working hand in hand with GRIC representatives and are collectively eager to deliver a project that will be attractive to occupiers that bring quality jobs to the community and be a catalyst for further development along this strategic new corridor within Metropolitan Phoenix.”
Butler Design Group will serve as the project architect. First Vice Presidents Cooper Fratt and Mike Parker along with Senior Vice President John Werstler with CBRE will be responsible for the leasing and marketing of the project. “Industrial product in the South I-10 corridor is well-leased but dated—the average building age is 25 years old,” said CBRE’s Fratt. “The introduction of new inventory with this commerce park will meet future tenant demand for Class A space, a segment that has been largely unmet in this well-located section along Loop 202 Freeway.”
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of March 31, 2019, TCC had $9.7 billion of projects in process and $2.8 billion in its pipeline.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 17 major cities throughout the United States. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2018 revenue). For more information visit www.TrammellCrow.com.