Phoenix-based developer acquires 100 acres near Loop 101 and Indian School Road in the West Valley
Nov 4, 2023, 7:02 PM
Park Algodon is a two-phase speculative industrial development spread across 86 acres that totals approximately 1.3 million square feet. (Creation)
(Creation)
Creation, a Phoenix-based developer, and its joint venture partner Clarion Partners acquired nearly 100 acres in west Phoenix last week with plans for the development of a $250 million industrial and mixed-use project, Park Algodon.
The land is on the northwest corner of Loop 101 and Indian School Road and is one of the last remaining vacant land parcels formerly owned by the late John F. Long, a real estate pioneer who developed Maryvale, Arizona’s first master-planned community.
Park Algodon is a two-phase speculative industrial development spread across 86 acres that totals approximately 1.3 million square feet.
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Expected to break ground by the end of the year, the first phase is comprised of four buildings totaling 670,000 square feet. The second phase is a single 556,000-square-foot building.
LGE Design Build will lead construction duties with completion expected in late 2025.
Separate from the joint venture, Creation is developing The Shops at Park Algodon on an adjoining seven acres, which will include over 14,000 square feet of restaurant and retail space, along with four pads for additional restaurant development.
The off-market deal was handled by Greg Vogel and Max Xander of Land Advisors who represented both the buyer and seller, the John F. Long family.
