By Audrey Jensen, Phoenix Business Journal
This article first appeared in the Phoenix Business Journal on April 12, 2023
One of the newest and largest industrial parks in Phoenix’s Deer Valley has secured its first tenant.
Three of New-York based Colgate-Palmolive Co.’s (NYSE: CL) skin-care businesses have together signed a lease for 91,350 square feet at the Mack Innovation Park Deer Valley’s first phase in north Phoenix, according to developer Mack Real Estate Group LLC.
New York City-based Mack Real Estate Group, or MREG, started construction on the 917,000-square-foot first phase of the industrial park in August 2022. The first phase is expected to be completed in Q3 and Q4 2023 and include speculative warehouses ranging in size from 63,000 square feet to 208,000 square feet.
At full build-out, the park is expected to see 3.5 million square feet north of the Phoenix Deer Valley Airport and just six miles from the $40 billion Taiwan Semiconductor Manufacturing Co. plant. The second phase of the park will start construction this summer and include 412,393 square feet of space.
Rusty Kennedy and James Cohn of Stream Realty Partners represented MREG in the lease and are the leasing brokers for the project. Ryan Steele and Noah Barrasso of Keyser represented CP Skin Health.
