Construction will kick off August 2021 at the Confluence at Gateway, a speculative light industrial park conveniently located in the highly desirable Southeast Valley industrial submarket of metro Phoenix. Phoenix has a population of 4.9 million and currently the 10th largest metropolitan area in the U.S. that is projected to grow more than 42% over the next 15 years. A big driver of this growth is the exodus from California, gaining demand from both companies and people relocating to the area due to favorable tax rates, operating costs and costs of living. The property will accommodate the growing demand for e-commerce warehouses, high-tech manufacturing and distribution.
“This project and partnership allows DWS to continue executing on its strategy to develop and own best in class Industrial real estate in markets with strong fundamentals throughout the United States,” said Todd Henderson, head of DWS Global Real Estate.
The property will feature six, Class A freestanding, single-story light industrial buildings. The buildings will be built accordingly to be LEED certified and range in size from 33,115 to 176,975- square feet, totaling 516,121 square feet on the 35-acre site. The buildings will be institutional grade with best in class design features and functionality including 7-inch reinforced concrete slabs, fully concrete secured truck courts, 32 feet of clear height and 3,600 amps of power per building (expandable) all located on separate lots. Construction is expected to be completed by June 2022.
"The Confluence at Mesa Gateway provides the much-needed industrial space for the East Valley. The site’s proximity to Phoenix-Mesa Gateway Airport provides highly skilled technology talent, substantial infrastructure, and convenient market access,” said Josh Tracy, director of development, Ryan Companies.
With direct access to four full diamond interchanges along the Loop 202 and AZ 24, this site provides access to the entire Phoenix metro, central and southern Arizona and one-day driving access to Southern California, Nevada, Utah, Colorado, New Mexico, and Texas.
Ryan recently completed 538,000 square feet at another East Valley property, Chandler Airport Commerce Park, with a record sale of $136.50 per square foot for the final industrial spec building proving their commitment to bring industrial companies to metro Phoenix.