MREG recently broke ground on the first seven buildings of an estimated 3-million-square-foot industrial complex located just 6 miles from a highly anticipated semiconductor manufacturing facility. The first phase of the master-planned industrial park includes more than 917,000 square feet of speculative warehouse space at 19th Avenue and Alameda Road and North Central Avenue and Pinnacle Peak Road in Phoenix.
The noncontiguous sites, all zoned A-2 to allow uses as intense as heavy manufacturing, are ideal for suppliers of Taiwan Semiconductor Manufacturing Co.’s plant that is currently under construction, as well as other industrial users looking to locate in the supply-constrained Deer Valley submarket. These first seven buildings range in size from 63,000 square feet to 208,000 square feet and can accommodate tenants needing as little as 4,800 square feet.
“We believe that Mack Innovation Park Deer Valley has an important role to play in the expanding semiconductor economy of the Phoenix MSA by delivering much-needed new construction for industrial users,” said Richard Mack, CEO of MREG. “We’re pleased to have the support of Stream Realty Partners for the lease-up campaign.”
Delivery for phase one of the park is anticipated in 2023. A second phase with an additional 409,839 square feet of industrial space is planned to commence construction in 2023. In addition to the initial 1.3 million square feet of speculative warehouse space across the currently planned phases, Mack Innovation Park Deer Valley offers more than 115 net acres of land available for sale, build to suit, and/or future speculative development. These future phases can easily accommodate larger users and/or customized requirements.
Stream, a national real estate services, development, and investment firm, opened its Phoenix office in September 2021 and has invested in hiring high-caliber talent to grow its industrial and office portfolios. Managing Director Rusty Kennedy and Senior Vice President James Cohn will serve as leasing agents for Mack Innovation Park Deer Valley.
Scottsdale-based Nitti Builders, LLC is the general contractor on the project. Scottsdale-based McCall & Associates Architects and Phoenix-based Deutsch Architecture Group will provide architectural design.
Site A at Mack Innovation Park Deer Valley is a three-building complex at the southeast corner of 19th Avenue and Alameda Road. It will feature warehouses with 62,896 square feet, 68,456 square feet, and 201,183 square feet. Site C at North Central Avenue and Pinnacle Peak Road will include four buildings with 73,171 square feet, 130,837 square feet, 172,673 square feet, and 207,984 square feet. The buildings will offer energy-efficient clerestory windows, concrete truck courts, and rear-loaded dock-high loading doors. All warehouses will boast Early Suppression, Fast Response (ESFR) sprinklers, LED lighting, clear heights of 24 feet, 30 feet, or 32 feet, and ample car parking.
Mack Innovation Park Deer Valley is adjacent to Deer Valley Airport and about 25 miles from Phoenix Sky Harbor International Airport. Nearby Interstate 17 and State Route 101 provide ground transportation options, with a host of restaurants, shopping centers, and hotels nearby.
“This state-of-the-art development located within one of the most product-constrained submarkets in Greater Phoenix promises to provide a great solution for advanced manufacturers, distributors, technology companies, and other industrial users,” Cohn said. “It offers a thoughtful design, unmatched access to labor, and unparalleled access to freeways that service the entire Metro Phoenix area. It has been a pleasure working with the entire team that MREG has brought together to bring this project to life.”
For leasing information, contact Kennedy at 602.696.8616 or Cohn at 602.635.0624.