{"id":1004573531,"date":"2022-03-28T03:51:52","date_gmt":"2022-03-28T11:51:52","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004573531"},"modified":"2022-12-08T13:15:22","modified_gmt":"2022-12-08T21:15:22","slug":"wetta-ventures-plans-60m-manufacturing-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/wetta-ventures-plans-60m-manufacturing-facility\/","title":{"rendered":"Wetta Ventures Plans $60M Manufacturing Facility"},"content":{"rendered":"
\"\"<\/a>

Image by startup38 via Pixabay.com<\/p><\/div>\n

In a counterpoint to the industrial space sector\u2019s recent focus on distribution space, Wetta Ventures<\/strong>, of Phoenix, will soon break ground on a $60 million Class A speculative industrial project in Mesa, Ariz. The development is intended for heavy manufacturing use, the Phoenix Business Journal<\/em> reported.<\/p>\n

As of the fourth quarter, the 450,000-square-foot Gateway Commerce Center II will be going up at the southwest corner of Pecos and Sossaman roads, near the Phoenix-Mesa Gateway Airport<\/p>\n

Wetta reportedly had acquired the 28-acre site for nearly $7 million; Ken McQueen and Chris McClurg of Lee & Associates<\/strong> represented the developer in that purchase.<\/p>\n

\n

READ ALSO<\/strong>: A Look at Phoenix\u2019s Large-Scale Industrial Projects<\/a><\/p>\n

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The development will feature 40-foot clear height and is intended for just one or two tenants. It\u2019s zoned for general industrial, and rail access along the southwest side of the site is provided by Union Pacific<\/strong>.<\/p>\n

Bill Jabjiniak, Mesa\u2019s director of economic development, was quoted as saying that the building would be very suitable for manufacturers of electric vehicles, batteries, medical devices, pharmaceuticals or semiconductors.<\/p>\n

McQueen reportedly told the PBJ<\/em> that two companies have already contacted Lee & Associates about leasing space in Gateway Commerce Center II, and that he expects the development to be at least partly preleased before its scheduled completion in the third or fourth quarter of 2023.<\/p>\n

Wetta did not respond to Commercial Property Executive<\/em>\u2019s request for additional information.<\/p>\n

Staying warm<\/h2>\n

Wetta has completed several projects in Mesa, including a hangar at Gateway Airport and its first Gateway Commerce Center project, which recently sold.<\/p>\n

Metro Phoenix has seen the number of manufacturing jobs increase by 1.3 percent from February 2020 to November 2021, according to a fourth-quarter report from Avison Young<\/strong>. Further, the metro hit a record high for total employment last November, and currently has its lowest unemployment since 2007.<\/p>\n

Not quite a year ago, APEL Extrusions<\/strong>, a Calgary-based company that makes aluminum extrusions, bought a 22.6-acre site<\/a> in the Phoenix West submarket, with plans to use it as a manufacturing facility and headquarters. Becknell Industrial<\/strong>, which sold the site, will be the developer of the 323,780-square-foot project.<\/p>\n","protected":false},"excerpt":{"rendered":"

The speculative development will be built in Mesa, Ariz.<\/p>\n","protected":false},"author":882,"featured_media":1004481265,"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":[33022,32762],"class_list":["post-1004573531","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-avison-young","tag-lee-associates"],"acf":[],"yoast_head":"\nWetta Ventures Plans $60M Manufacturing Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Wetta Ventures will soon break ground on a $60 million Class A speculative industrial project in Mesa, Ariz.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/wetta-ventures-plans-60m-manufacturing-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Wetta Ventures Plans $60M Manufacturing Facility\" \/>\n<meta property=\"og:description\" content=\"Wetta Ventures will soon break ground on a $60 million Class A speculative industrial project in Mesa, Ariz.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/wetta-ventures-plans-60m-manufacturing-facility\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-03-28T11:51:52+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-08T21:15:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2020\/09\/industrial-building-generic-image.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/wetta-ventures-plans-60m-manufacturing-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wetta-ventures-plans-60m-manufacturing-facility\/\",\"name\":\"Wetta Ventures Plans $60M Manufacturing Facility - 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