Mohr Capital is on track for the groundbreaking of a two-building, speculative industrial campus totaling 704,472 square feet in Surprise, Ariz. The privately held real estate investment firm acquired the 46.3-acre site for $14.6 million in January, Maricopa County records show.
The campus will take shape within Summit Business Park, a Foreign Trade Zone capable industrial area totaling approximately 142 acres. Building One will encompass 453,960 square feet, while Building Two will total 250,512 square feet. Catering to distribution, manufacturing and logistics companies, the facilities have an expected mid-2023 delivery.
Upon completion, the park’s larger structure will feature a 36-foot clearance height, 106 dock doors, four grade-level doors along with a 145-foot truck court, while Building Two will have 32-foot clear height, 58 dock doors, four grade-level doors and a 135-foot truck court. The property will also include 225 trailer parking spots and more than 700 car parking spaces.
Mohr Capital selected JLL to market the development. The leasing team includes Managing Director Tony Lydon, Executive Vice President John Lydon and Associate Broker Kelly Royal.
The development site is near the northwest corner of Cactus and North Dysart roads, adjacent to Crescent Crown Distributing’s 240,170-square-foot warehouse at 13430 W. Sweetwater Ave. The location provides easy access to Loop 303 and Loop 101, while Northern Parkway is less than 4 miles away.
Part of Summit Business Park
The 142-acre Summit Business Park is brimming with industrial development activity. Last December, RCI Properties purchased a two-parcel tract next to Mohr Capital’s upcoming project, with plans to develop a chemical management structure, according to AZ Big Media.
MacLaughlin & Co. also plans to build a 133,904-square-foot building within the industrial park, according to CommercialEdge data. As of June, seven industrial projects totaling more than 3.5 million square feet were underway within a 5-mile radius of the upcoming property.
Greater Phoenix industrial developments
Industrial developers are drawn to the Greater Phoenix market. In May, Prologis announced plans for a 113-acre development dubbed Prologis 303 Business Park in Goodyear, Ariz. At full build-out, the campus will total approximately 1.6 million square feet.
Another Phoenix suburb, Buckeye, will be home to KORE Power’s $1.25 billion gigafactory encompassing 2 million square feet. The company plans to break ground on KOREPlex this fall.
Meanwhile, Thompson Thrift Commercial is working on a $180 million multi-phase industrial campus in Queen Creek, Ariz. The initial phase of the 13-building campus totaling 1.1 million square feet is expected to come online in late 2022.