{"id":1004734120,"date":"2024-10-23T03:14:42","date_gmt":"2024-10-23T11:14:42","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004734120"},"modified":"2024-10-23T03:41:22","modified_gmt":"2024-10-23T11:41:22","slug":"logistics-property-completes-its-1st-phoenix-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/logistics-property-completes-its-1st-phoenix-campus\/","title":{"rendered":"Logistics Property Completes Its 1st Phoenix Campus"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg\"><img loading=\"lazy\" decoding=\"async\" width=\"1000\" height=\"750\" data-attachment-id=\"1004734121\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-completes-its-1st-phoenix-campus\/palm-gateway-logistics-center\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg\" data-orig-size=\"1000,750\" 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=\"Palm Gateway Logistics Center\" data-image-description=\"&lt;p&gt;Exterior shot of Palm Gateway Logistics Center in Mesa, Ariz.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;The 615,000-square-foot Palm Gateway Logistics Center consist of four buildings ranging between 93,000 and 290,000 square feet. Image courtesy of Logistics Property Co.&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg?w=1000\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg\" alt=\"Exterior shot of Palm Gateway Logistics Center in Mesa, Ariz.\" class=\"wp-image-1004734121\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg 1000w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/10\/Palm-Gateway-Logistics-Center.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 1000px) 100vw, 1000px\" \/><\/a><figcaption class=\"wp-element-caption\">The 615,000-square-foot Palm Gateway Logistics Center consists of four buildings ranging between 93,000 and 290,000 square feet. <em>Image courtesy of Logistics Property Co.<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>Logistics Property Co. has completed its first industrial development in metro Phoenix. Palm Gateway Logistics Center is a 615,000-square-foot speculative campus in Mesa, Ariz.<\/p>\n\n\n\n<p>The developer <a href=\"https:\/\/www.commercialsearch.com\/news\/logistics-property-co-breaks-ground-on-its-1st-phoenix-project\/\">broke ground on the four-building complex<\/a> last January, financing its construction with a $62.9 million loan from Old National Bank, public records show. <\/p>\n\n\n\n<p>Partners on the project included general constructor Alcorn Construction, architecture firm Ware Malcomb and civil engineer SWS Engineering. Lee &amp; Associates is handling the leasing efforts.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/lower-rates-signal-increase-in-industrial-sales\/\">Lower Rates Signal Increase in Industrial Sales<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Palm Gateway&#8217;s facilities range from 93,000 to 290,000 square feet, with clear heights between 28 and 36 feet. Built according to LEED standards, the property features a total of 140 dock-high doors and 16 drive-in doors, as well as 866 car parking spaces and 66 trailer spots.<\/p>\n\n\n\n<p>Located at 8130, 8134 and 8142 E. Pecos Road, the campus is adjacent to Phoenix-Mesa Gateway Airport. Downtown Phoenix is within 37 miles, while the Phoenix Sky Harbor International Airport is 32 miles northwest.<\/p>\n\n\n\n<p>Logistics Property is also working on a second project in the market, Olive Logistics Center. The two-building, 1 million-square-foot campus is expected to come online in the first quarter of next year.<\/p>\n\n\n\n<p>Lee &amp; Associates Principals Ken McQueen and Chris McClurg, along with Associates Blake Peters and Jack Sims, are the leasing representatives.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-s-industrial-pipeline-still-tops-the-charts\">Phoenix\u2019s industrial pipeline still tops the charts<\/h2>\n\n\n\n<p>Metro Phoenix had almost 37 million square feet of industrial space underway as of August, according to a recent <a href=\"https:\/\/www.commercialsearch.com\/news\/commercialedge-industrial-report\/\">CommercialEdge report<\/a>. The market continued to lead nationwide for pipeline size, being followed by Dallas (16 million square feet) and Philadelphia (12.4 million square feet).<\/p>\n\n\n\n<p>Taiwan Semiconductor Manufacturing Co. is working on the <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-industrial-properties-under-construction-in-phoenix\/\">largest project underway in the metro<\/a>, a 3.8 million-square-foot facility. The development is set to come online in the first quarter of next year and will be the most advanced semiconductor fabrication plant in the U.S.<\/p>\n\n\n\n<p>Another significant development is Virgin Industrial Park, a 1.5 million-square-foot industrial campus in Glendale, Ariz. IndiCap and Invesco Real Estate <a href=\"https:\/\/www.commercialsearch.com\/news\/indicap-invesco-wrap-1-msf-project-in-greater-phoenix\/\">completed the project&#8217;s first phase<\/a>, totaling 1 million square feet, in August.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The spec development broke ground last January.<\/p>\n","protected":false},"author":3355,"featured_media":1004734121,"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":[32762,52042,34936],"class_list":["post-1004734120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-lee-associates","tag-logistics-property-co","tag-ware-malcomb"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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