Commercial real estate news releases from Avison Young
Quarterly and topical research insights to help your business gain competitive edge in commercial real estate.
Avison Young brokers $7.14 million acquisition of 27.9 acres of land for an eight-building industrial project in Surprise, AZ
Phoenix, AZ – Avison Young announced today that it has brokered the $7.14 million acquisition of 27.9 acres of land in Surprise, AZ. The site will include a multi-phased industrial development of warehouse/distribution, manufacturing, and flex facilities that will be for sale or lease.
Avison Young Senior Vice President, Kevin Helland represented the buyer, South Dakota-based SWC Development Partners. Avison Young’s Helland and Principal and Director of Brokerage Services Mark Seale who are out of the firm’s Phoenix office will represent the ownership on the leasing and sale of the project.
The sold parcel marks the final phase of Skyway Commons, an industrial park which currently has four completed industrial buildings totaling 173,878 sf that were built by another developer. SWC Development Partners has plans to build eight buildings ranging from 25,000 sf to 139,278 sf. Located at 11860 N Dysart Road, the first building is already fully permitted, and will be a 59,352-sf warehouse/distribution facility that is anticipated to commence construction in October 2021 with completion in 4Q 2022. The second building will total 139,278 sf and will commence construction in 2Q 2022 with completion estimated 1Q 2023. The construction schedule for the remaining six buildings is to be determined based on market demand.
“The Skyway Commons project will offer the buildings on a for sale and lease basis to meet the needs of all users targeting warehouse, distribution and manufacturing facilities in the West Valley submarket. Moreover, there is currently a dearth of available industrial buildings available in the Phoenix MSA in the 25,000 to 150,000 sf range, which this project is planned to serve,” said Helland. He also noted that future phases will include industrial flex-space for lease under 10,000 sf, which is truly in short supply throughout the West Valley. The owner will also consider a build-to-suit situation for users seeking customized features.
Skyway Commons is located within Skyway Business Park, a 300-acre rail-served business park situated in the heart of the northwest Phoenix region. It is strategically located 35 minutes from downtown Phoenix and is minutes from the confluence of Interstate 10 and Arizona Loop 303. It is strategically located to serve Arizona as well as the key markets in the Western United States including Ports of Los Angeles/Long Beach, New Mexico, Utah, Nevada and Southern California’s 23 million population.
Avison Young creates real economic, social and environmental value as a global real estate advisor, powered by people. As a private company, our clients collaborate with an empowered partner who is invested in their success. Our integrated talent realizes the full potential of real estate by using global intelligence platforms that provide clients with insights and advantage. Together, we can create healthy, productive workplaces for employees, cities that are centers for prosperity for their citizens, and built spaces and places that create a net benefit to the economy, the environment and the community.
Avison Young is a 2021 winner of the Canada's Best Managed Companies Platinum Club designation, having retained its Best Managed designation for 10 consecutive years.
Follow Avison Young
For more information:
Kevin Helland, Senior Vice President: +1 (623) 293-1543
Mark Seale, Principal & Director of Brokerage Services: +1 (602) 828-2325