ARIZONA NEWS

Caliber by Greystar marks first completed tenant at Peoria Place

Jun 5, 2024, 4:35 AM

Barrett Green (Layton Construction), Vice Mayor Jon Edwards (Peoria), Councilmember Bill Patena (Pe...

Barrett Green (Layton Construction), Vice Mayor Jon Edwards (Peoria), Councilmember Bill Patena (Peoria), Mayor Pro Tem Jennifer Crawford (Peoria), Wil Hogue (Greystar), Anthony Lydon (JLL) Dustin Chisum (Deutsch Architecture) and David Calcaterra (Deutsch Architecture) celebrate the completion of Caliber by Greystar. (Courtesy of Greystar)

(Courtesy of Greystar)

PHOENIX — Peoria and Greystar officials celebrated the completion of Caliber on Monday, marking the first finished development of a $500 million mixed-use project.

Caliber is located along U.S. 60, at the southwest corner of 79th and Grand avenues. It is the first piece of the 88-acre Peoria Place, which was designed with a “work-live-play” focus.

“High on this city council’s list of priorities is bringing new life to our historic downtown,” Peoria Mayor Jason Beck said in a news release. “Greystar’s Peoria Place is a critical component as we work to grow new housing and employment opportunities in the place in which our city was founded.”

Caliber spans nearly 412,000 square feet across three buildings, each more than 110,000 square feet. Construction on the three-building project began in May 2023.

The three buildings feature ample cargo, docking and parking space, as well as energy-efficient LED lighting, roof-mounted solar and EV charging stations. Plus, infrastructure is built to allow tenants the ability to double their power capacity from 3,000 to 6,000 amps.

Greystar Senior Associate Wil Hogue pointed out Caliber represents the “work” element in Peoria Place.

“Caliber will serve as a magnet for new business and employment,” Hogue said.

“These buildings were designed to fill Peoria’s need for flexible, immediately-available industrial space,” JLL Executive Managing Director Anthony Lydon added. Lydon is one of four exclusive leasing brokers for Caliber.

“We are already fielding strong leasing interest from a host of high-quality users, which we know will bring great value to the community,” Lydon said.

When development at Peoria Place is finished, it will include more than 700 apartments, 255 build-for-rent homes and 4,900 square feet of retail space.

Greystar broke ground in January on Marlowe Peoria Place, which will account for 370 apartments. Its amenities will include a fitness center, pickleball court, two dog parks and a pool with a spa.

It also broke ground on a shopping center called The Trailhead in May, set to open later this year.

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Caliber by Greystar marks first completed tenant at Peoria Place