{"id":1004642610,"date":"2023-01-31T03:23:38","date_gmt":"2023-01-31T11:23:38","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004642610"},"modified":"2023-01-31T03:23:39","modified_gmt":"2023-01-31T11:23:39","slug":"gid-jv-grows-phoenix-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/","title":{"rendered":"GID JV Grows Phoenix Industrial Campus"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img decoding=\"async\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004642620\" data-id=\"1004642620\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-3-1.jpg?w=1024\"\/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Gilbert Spectrum. All images courtesy of Graycor Construction Co.<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004642621\" data-id=\"1004642621\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-2-1.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-2-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-2-1.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-2-1.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-2-1.jpg?resize=1024,683 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Aerial view Gilbert Spectrum<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1200\" height=\"800\" alt=\"\" class=\"wp-block-jetpack-slideshow_image wp-image-1004642622\" data-id=\"1004642622\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-1-1.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-1-1.jpg 1200w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-1-1.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-1-1.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-1-1.jpg?resize=1024,683 1024w\" sizes=\"(max-width: 1200px) 100vw, 1200px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">Front view Gilbert Spectrum<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p>The joint venture between <strong>GID <\/strong>and\u00a0<strong>SunCap Property Group<\/strong> has completed three more warehouses, totaling some 310,000 square feet, at the 64-acre Gilbert Spectrum industrial park in Gilbert, Ariz. <strong>Graycor Construction Co.<\/strong> serves as general contractor and <strong>Blamer Architectural Group<\/strong> is the project&#8217;s architect.\u00a0<\/p>\n<p>At full build-out, Gilbert Spectrum will include up to 850,000 square feet of office, flex industrial and technology-related space. Currently, the industrial campus has one pad remaining for build-to-suit industrial development, in addition to the already-existing and under-construction facilities.<\/p>\n<hr \/>\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/e-commerce-growth-still-drives-industrial-demand\/\">E-Commerce Growth Still Drives Industrial Demand<\/a><\/p>\n<hr \/>\n<p>The partnership <a href=\"https:\/\/www.commercialsearch.com\/news\/gid-jv-breaks-ground-on-phoenix-industrial-buildings\/\">broke ground<\/a> on the three warehouses, known as Building 9, 10 and 11, in November 2021. According to CommercialEdge data, the construction was financed with a $25.3 million loan provided by <strong>Citizens Financial Group<\/strong>, with a maturity date set in 2024.<\/p>\n<h2>Close to fully leased<\/h2>\n<p>Principals Ken McQueen and Chris McClurg with <strong>Lee &amp; Associates <\/strong>are in charge of leasing the buildings that are 93 percent occupied, as follows:<\/p>\n<ul>\n<li>\n<p>Building 9: <strong>Northrop Grumman <\/strong>leased the entire 100,000-square-foot facility, thus expanding its footprint at Gilbert Spectrum; the multinational aerospace and defense technology company had moved into Building 5 in early 2022.<\/p>\n<\/li>\n<li>\n<p>Building 10: The moving company <strong>S&amp;M Moving Systems<\/strong> signed a full-building lease at the 142,200-square-foot warehouse.<\/p>\n<\/li>\n<li>\n<p>Building 11: <strong>Banner Industries<\/strong> occupies 27,097 square feet while <strong>Varsity Brands<\/strong> took up 18,047 square feet in the third completed building, leaving 21,000 square feet of space available at the 66,400-square-foot facility.<\/p>\n<\/li>\n<\/ul>\n<p>The three warehouses feature clear heights of 28 and 32 feet, ESFR fire sprinklers and a total of 113 dock-high and drive-in doors; they also share a 190-foot loading court.<\/p>\n<p>Located at 290, 280 and 260 S. McQueen Road, some 21 miles from downtown Phoenix, the facilities have access to Interstate 10, Loop 101 and U.S. Highway 60. Phoenix-Mesa Gateway Airport is only 12 miles away. The surrounding area is also home to an Amazon hub, Dillard\u2019s Distribution Center and several other logistics centers.<\/p>\n<h2>Recent Greater Phoenix industrial activity<\/h2>\n<p>According to a fourth quarter 2022 <strong>Colliers<\/strong> report on the Greater Phoenix industrial market, the metro&#8217;s pipeline grew 6.8 percent quarter-over-quarter to 43.7 million square feet. New supply amounted to 26.2 million square feet in 2022, marking a 7 percent increase in total inventory over the year.<\/p>\n<p>Since the beginning of this year, The Valley saw a couple of significant industrial projects break ground. Lincoln Property, in partnership with Harvard Investments, started construction on the first phase of <a href=\"https:\/\/www.commercialsearch.com\/news\/lincoln-property-breaks-ground-on-7-msf-phoenix-project\/\">Goodyear AirPark<\/a>. At full build-out, the campus will encompass 7 million square feet.<\/p>\n<p>Another recent development is <a href=\"https:\/\/www.commercialsearch.com\/news\/thompson-thrift-breaks-ground-on-1-msf-phoenix-project\/\">Germann Commerce Center<\/a>, a 1 million-square-foot industrial campus taking shape in the Phoenix suburb of Queen Creek, Ariz. Completion is expected in the first quarter of 2024.<\/p>\n<p>\u00a0<\/p>","protected":false},"excerpt":{"rendered":"<p>At full build-out, Gilbert Spectrum will total some 850,000 square feet.<\/p>\n","protected":false},"author":2829,"featured_media":1004642620,"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":[51093,44735,32762,36576],"class_list":["post-1004642610","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-gid","tag-graycor-construction-company","tag-lee-associates","tag-suncap-property-group"],"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>GID JV Grows Phoenix Industrial Campus - CPE<\/title>\n<meta name=\"description\" content=\"The joint venture between GID and SunCap has completed thee industrial buildings within the 64-acre Gilbert Spectrum campus in Gilbert, 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\/gid-jv-grows-phoenix-industrial-campus\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GID JV Grows Phoenix Industrial Campus\" \/>\n<meta property=\"og:description\" content=\"The joint venture between GID and SunCap has completed thee industrial buildings within the 64-acre Gilbert Spectrum campus in Gilbert, Ariz.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/\" \/>\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=\"2023-01-31T11:23:38+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-31T11:23:39+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-3-1-e1675154221264.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1068\" \/>\n\t<meta property=\"og:image:height\" content=\"801\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\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\/gid-jv-grows-phoenix-industrial-campus\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/\",\"name\":\"GID JV Grows Phoenix Industrial Campus - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-3-1-e1675154221264.jpg\",\"datePublished\":\"2023-01-31T11:23:38+00:00\",\"dateModified\":\"2023-01-31T11:23:39+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"The joint venture between GID and SunCap has completed thee industrial buildings within the 64-acre Gilbert Spectrum campus in Gilbert, Ariz.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/gid-jv-grows-phoenix-industrial-campus\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-3-1-e1675154221264.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/01\/Gilbert-Spectrum-3-1-e1675154221264.jpg\",\"width\":1068,\"height\":801,\"caption\":\"Gilbert Spectrum. 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