Trammell Crow Company (TCC), one of the nation’s leading developers and investors in commercial real estate, and partner, Artis REIT, a real estate investment trust investing in office, industrial and retail properties, will develop a Class A, multi-phase industrial park featuring six buildings totaling 618,000 square feet in Gilbert, AZ.
The project, known as “Park Lucero”, is located on 48.1 acres at the northwest corner of Mustang Drive and Germann Road near the Chandler/Gilbert border. The site has frontage along the Loop 202 freeway and Germann Road and is directly adjacent to more than one million square feet of retail amenities. Construction will begin summer 2014.
“We are very excited to be partnering with Artis REIT to deliver this project,” said Cathy Thuringer, Principal with TCC’s Phoenix Business Unit. “Park Lucero offers a great location, best-in-class design and an abundance of amenities. This new industrial park will provide tenants with the environment to grow and seek new business opportunities in Arizona.”
Park Lucero is planned as a Class A industrial park featuring a combination of buildings with dock-high, truckwell and grade-level loading, 24-foot to 32-foot clear ceiling height and an overall 2.1:1,000 parking ratio. When complete, Park Lucero can accommodate tenants from 12,000 to 164,000 square feet.
“Continuing our relationship with TCC in a region experiencing solid growth strengthens our development pipeline in the US,” said Philip Martens, VP of Asset Management for Artis REIT’s US operations. “We are proud to work alongside such a reputable developer in a state we are familiar with and are confident this industrial park meets and exceeds the market’s expectations.”
Butler Design Group of Phoenix, AZ will serve as lead architect for the project and D.L. Withers Construction will serve as general contractor. The team of Pat Harlan, Steve Sayre and Kyle Westfall of JLL has the project leasing assignment.