Brookfield Properties Breaks Ground on Phoenix-Area Industrial Facility
Camelback 303 is scheduled to come online in the fourth quarter.
Brookfield Properties has broken ground on Camelback 303 Logistics Center, a 616,100-square-foot industrial development in Goodyear, Ariz.
Camelback 303 Logistics Center will comprise two buildings and will also provide space for a variety of industrial outdoor storage uses. Completion is scheduled for the fourth quarter of this year.
Stevens-Leinweber Construction serves as the general contractor, along with Butler Design Group as the project architect. CBRE’s Executive Vice Presidents Pat Feeney and Danny Calihan and Associate Tyler Vowels oversee the leasing activity.
JPMorgan Chase Bank provided two construction loans totaling $56.3 million, according to CommercialEdge data.
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The two buildings are planned to measure 303,500 and 312,000 square feet. The development will feature 36-foot clear heights, LED lighting, ESFR fire sprinklers, 79 dock-high and four drive-in doors, 3,000 amps of power,185- to 370-foot secured concrete truck courts, electric vehicle charging stations, parking for more than 300 cars and 212-214 trailers. The developer aims to meet LEED certification.
Located at 16395-16565 W. Camelback Road at the corner of Camelback Road and Pebble Creek Parkway, the development is within PV303, a 1,600-acre master planned industrial park by Merit Partners. Tenants at Camelback 303 will have quick access to the metro via Interstate 10 and major thoroughfares to adjacent industrial hotspots, such as California, Nevada and New Mexico.
Phoenix ranks first among industrial markets
Phoenix remained the nation’s unchallenged leader in industrial development, ranking first in the U.S. last year. A total of 106 properties broke ground within the Phoenix market last year, accounting for 6.2 percent of total stock—significantly higher than the U.S. average of 1.3 percent, according to CommercialEdge data. Last year, some 23.6 million square feet broke ground in Phoenix, substantially more than the 8.9 million square feet recorded in 2022.
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