Westcore Kicks Off 722 KSF Phoenix Logistics Project

Hartford Investment Management Co. originated a $41.5 million construction loan for the industrial campus fronting Interstate 10.

Fairway 10. Rendering courtesy of Westcore

Westcore has begun site work on Fairway 10, a 720,000-square-foot, three-building industrial project in Avondale, Ariz. The company tapped The Opus Group to serve as development manager and design-build general contractor. The firm expects to wrap up construction work during the second quarter of 2021.

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The developer acquired the 51-acre site along North 119th Avenue for $12 million in June, according to Maricopa County records. Additionally, the company funded the project with a $41.5 million construction financing package from Hartford Investment Management Co.

The three buildings will be located at 750, 850 and 950 N. 119th Avenue. Two of the facilities will be single-loaded warehouses and span 160,000 and 170,000 square feet, respectively. The largest property of the three will be a cross-dock building encompassing 390,000 square feet. Situated just off Interstate 10, the site is 19 miles west of Phoenix Sky Harbor International Airport and 16 miles west of the city center.

JLL Managing Directors Anthony Lydon and Marc Hertzberg, along with Senior Vice President Riley Gilbert oversee leasing efforts for Fairway 10.

JLL’s third quarter 2020 Industrial Insight report found that 81 percent of the 6 million square feet of logistics space absorbed in Phoenix in 2020 came from the metro’s West Valley.

In April, Westcore closed a full-building lease at West80, a 400,000-square-foot warehouse in Phoenix, to ABB Electrification. Cushman & Wakefield assisted both parties in the transaction.

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