{"id":1004530301,"date":"2021-05-11T12:21:00","date_gmt":"2021-05-11T20:21:00","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004530301"},"modified":"2022-12-08T23:11:33","modified_gmt":"2022-12-09T07:11:33","slug":"marwest-breaks-ground-on-1-msf-mesa-industrial-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/marwest-breaks-ground-on-1-msf-mesa-industrial-project\/","title":{"rendered":"Marwest Breaks Ground on 1 MSF Mesa Industrial Project"},"content":{"rendered":"\n<p>Marwest Enterprises has broken ground on Elliot 202, a two-building, 1.1 million-square-foot speculative industrial campus in Mesa, Ariz., according to <em>Phoenix Business Journal<\/em>. With Willmeng Construction serving as the project\u2019s general contractor and Ware Malcomb as architect, completion is expected in the first quarter of 2022. <\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"alignright size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"400\" height=\"310\" data-attachment-id=\"1004530302\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/marwest-breaks-ground-on-1-msf-mesa-industrial-project\/image-by-efaflex_schnelllauftore-via-pixabay\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Image-by-EFAFLEX_Schnelllauftore-via-Pixabay.png\" data-orig-size=\"400,310\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Image-by-EFAFLEX_Schnelllauftore-via-Pixabay\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Image-by-EFAFLEX_Schnelllauftore-via-Pixabay.png?w=400\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Image-by-EFAFLEX_Schnelllauftore-via-Pixabay.png\" alt=\"\" class=\"wp-image-1004530302\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Image-by-EFAFLEX_Schnelllauftore-via-Pixabay.png 400w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/05\/Image-by-EFAFLEX_Schnelllauftore-via-Pixabay.png?resize=300,233 300w\" sizes=\"auto, (max-width: 400px) 100vw, 400px\" \/><figcaption><em>Image by\u00a0EFAFLEX_Schnelllauftore via Pixabay<\/em>.com<\/figcaption><\/figure><\/div>\n\n\n\n<p>Elliot 202 is the largest speculative development underway in Mesa, accounting for more than half of the city&#8217;s current pipeline. CommercialEdge data shows some 1.9 million square feet of industrial space was under construction in Mesa as of May.<\/p>\n\n\n\n<p>The industrial development is taking shape on a 74-acre site at 8450 and 8604 E. Elliot Road within the Southeast Valley submarket. The developer took out a $57 million construction loan from Western Alliance Bank to finance the project, according to CommercialEdge data.<\/p>\n\n\n\n<p>Upon completion, the light industrial buildings of 460,320 and 619,920 square feet, respectively, will have 40-foot maximum clear heights and 60-foot speed bays. The campus will also feature 135- and 140-foot truck courts, as well as trailer parking across 8.5 acres. CBRE was tapped to handle all leasing at the property.<\/p>\n\n\n\n<p>Elliot 202 is roughly 15 miles southeast of downtown Mesa within the Elliot Road Technology Corridor, just west of Loop 202. Phoenix-Mesa Gateway Airport is 6 miles south.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\">Developing Mesa<\/h2>\n\n\n\n<p>Marwest is an active developer of industrial product in and around Mesa. The firm is behind the Landing-branded developments, three neighboring properties totaling 1.4 million square feet of space across 16 buildings. In December, Marwest sold <a href=\"https:\/\/www.commercialsearch.com\/news\/cam-investments-pays-81m-for-phoenix-industrial-asset\/\" target=\"_blank\" rel=\"noreferrer noopener\">Landing 202<\/a>, a 603,903-square-foot industrial property on East Ray Road, for $81 million.<\/p>\n\n\n\n<p>Also located on Ray Road is the development site of ElectraMeccanica\u2019s upcoming 235,000-square-foot&nbsp; facility that Marwest will be building near Phoenix-Mesa Gateway Airport.<\/p>\n\n\n\n<p>Another industrial project planned for Mesa is the result of a joint venture between LaPour Partners and Scottsdale Investment Management. In April, the partnership announced a <a href=\"https:\/\/www.commercialsearch.com\/news\/lapour-partners-sim-unveil-1-5-msf-phoenix-industrial-project\/\" target=\"_blank\" rel=\"noreferrer noopener\">1.5 million-square-foot industrial park<\/a> to come online on a 101-acre parcel at the intersection of Loop 202 and Sossaman Road.<\/p>\n\n\n\n<p>Phoenix continues to lead the way in industrial development. According to a recent CommercialEdge report, nearly 14 million square feet of industrial space was under construction in the metro as of March, accounting for 5.4 percent of total stock. On a national level, new supply accounts for only 2.6 percent of total stock.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The two-building development accounts for more than half of the city\u2019s current pipeline.<\/p>\n","protected":false},"author":870,"featured_media":1004530302,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,1601,15],"tags":[34936,38731],"class_list":["post-1004530301","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-ware-malcomb","tag-willmeng-construction"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Marwest Breaks Ground on 1 MSF Mesa Industrial Project - 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