Real estate firm acquires 268 acres in Mesa for new industrial park
Oct 22, 2021, 4:15 AM | Updated: 10:22 am
(City of Mesa Rendering)
PHOENIX — Real estate development firm CRG recently acquired 268 acres in Mesa for a new 4-million-square-foot industrial park.
The Cubes at Mesa Gateway, located between Pecos and Germann roads, is expected to be ready by 2025 in what will be the largest master-planned, development-ready industrial park in the southeast Valley.
“The Cubes at Mesa Gateway is in good company, joining a growing list of developments choosing to locate in Mesa,” Mayor John Giles said in a press release.
“This is also a timely and exciting addition to the Gateway area and for the southeast Valley, to help accommodate the growth and need for space for large users.”
The full site is expected to be completed by late 2024 and caters to a wide range of industries.
Expected occupants include bulk distribution, e-commerce fulfillment and specialized manufacturing.
It will offer multiple building and size configurations from 25,000 square feet to 1.2 million square feet, in addition to having build-to-suit opportunities.
“The southeast Valley is booming, with strong gains in high-tech industrial sectors such as semiconductor, aerospace, electric vehicle, defense and data centers, but most of the area’s current industrial inventory caters to smaller users,” Mark Sonnenberg, southwest region CRG senior vice president and partner, said in the release.
The first phase of vertical construction is expected to begin in 2022, city officials said, with the first building set to be delivered to coincide with the completion of the Arizona State Route 24 freeway expansion late next year.