{"id":1004776963,"date":"2025-11-05T05:29:45","date_gmt":"2025-11-05T13:29:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004776963"},"modified":"2025-11-05T05:29:47","modified_gmt":"2025-11-05T13:29:47","slug":"viawest-barings-land-107m-for-phoenix-industrial-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/viawest-barings-land-107m-for-phoenix-industrial-project\/","title":{"rendered":"ViaWest, Barings Land $107M for Phoenix Industrial Project"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a2d3746bf426&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"1056\" height=\"818\" data-attachment-id=\"1004776962\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/rediscover\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg\" data-orig-size=\"1056,818\" 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;1&quot;}\" data-image-title=\"ReDiscover\" data-image-description=\"&lt;p&gt;Image from a JLL Capital Markets press release sent via email&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;ReDiscover Industrial Park will comprise four buildings ranging from 189,280 to 212,000 square feet. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg\" alt=\"A rendering of ReDiscover Industrial Park\" class=\"wp-image-1004776962\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg 1056w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg?resize=300,232 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg?resize=768,595 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/11\/ReDiscover.jpg?resize=1024,793 1024w\" sizes=\"auto, (max-width: 1056px) 100vw, 1056px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">When complete, ReDiscover Industrial Park will comprise four buildings ranging from 189,280 to 212,000 square feet. <em>Image courtesy of JLL<\/em> <em>Capital Markets<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>ViaWest Group and Barings have obtained $107 million in construction financing for ReDiscover Logistics Park, an 808,448-square-foot industrial development in Phoenix. <\/p>\n\n\n\n<p>This is the largest speculative construction loan in Arizona this year, according to JLL Capital Markets, which worked on behalf of the developers to secure the financing through a life insurance company.<\/p>\n\n\n\n<p>The joint venture acquired the development site in October, a 43.5-acre property that currently contains a former call center building. The original structure will be demolished and replaced with four buildings ranging from 189,280 to 212,000 square feet that will feature 32- to 36-foot clear heights. The project is slated for completion in February 2027.<\/p>\n\n\n\n<p>The speculative development will provide flexible space configurations for tenants, along with a shared truck court of 200 feet, an FM Global-compliant sprinkler system and 980 parking spaces.<\/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\/how-ai-powered-tech-is-reshaping-industrial-real-estate\/\">How AI-Powered Tech Is Reshaping Industrial Real Estate<\/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>ViaWest Managing Director Alex Boles told <em>Commercial Property Executive<\/em> the industrial park would also be LEED-certified and include reinforced concrete slabs and castellated steel decking, features that will give the asset a broad appeal to prospective tenants.<\/p>\n\n\n\n<p>\u201cWe remain highly confident in the strength of the Phoenix industrial market, particularly for projects that meet every key criterion for success,\u201d Boles said.<\/p>\n\n\n\n<p>Taking shape at 2402 W. Beardsley Road in the Deer Valley submarket, the development has access to the Loop 101 and Interstate 17 interchange, with Deer Valley Airport within 3 miles. Downtown Phoenix is 18 miles south, while Phoenix Sky Harbor International Airport is some 22 miles away. <\/p>\n\n\n\n<p>The location is also less than 10 miles from the $65 billion <a href=\"https:\/\/www.commercialsearch.com\/news\/how-tsmcs-65b-campus-will-impact-arizonas-industrial-market\/\">TSMC Phoenix<\/a> manufacturing facility, which is driving a local need for suppliers and distributors.<\/p>\n\n\n\n<p>The JLL Capital Markets team included President Kevin MacKenzie, Senior Director Jason Carlos and Analyst Lilley Kroll.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-phoenix-s-active-development-pipeline\">Phoenix&#8217;s active development pipeline<\/h2>\n\n\n\n<p>Some 16 million square feet of industrial space were under construction in Phoenix as of September, according to a recent Yardi Matrix report. The amount represents 3.6 percent of stock, placing The Valley on the second position nationwide after Memphis (4.1 percent of stock).<\/p>\n\n\n\n<p>Meanwhile, the metro\u2019s vacancy rate was 8.2 percent, 130 basis points lower than the national average of 9.5 percent. Average asking rents increased to $9.72 per square foot, up 6 percent over the year.<\/p>\n\n\n\n<p>In October, Trammell Crow started construction on a 1 million-square-foot industrial park called <a href=\"https:\/\/www.commercialsearch.com\/news\/trammell-crow-launches-1-msf-industrial-park\/\">West 101 Logistics Center<\/a>. The five-building project is slated for delivery by summer 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the largest speculative construction loan in Arizona this year.<\/p>\n","protected":false},"author":3810,"featured_media":1004776962,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21825,21748,21742,1601,15],"tags":[34275,44006,35281],"class_list":["post-1004776963","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-finance","category-industrial","category-latest","category-phoenix","category-west","tag-barings","tag-jll-capital-markets","tag-viawest"],"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>ViaWest, Barings Land $107M for Phoenix Industrial Project - 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