EastGroup Properties Buys 50 Acres for Development of 655,400 SF Industrial Project in Mesa, Arizona
MESA, ARIZ. — EastGroup Properties has assembled and closed on 50 acres in the Phoenix Mesa Gateway Airport submarket for the development of Gateway Interchange, a Class A industrial development.
Totaling 655,400 square feet and seven buildings, Gateway Interchange will feature spaces ranging from 13,440 square feet to 180,000 square feet with 28- to 32-foot clear heights, seven-inch floor thickness, abundant power, full concrete truck courts, dock-high and ground-level loading, LED warehouse lighting and ESFR sprinkler system.
The buildings will include glass roll-up doors leading out of breakrooms to covered patio areas, six outdoor amenity nodes that are interconnected by trails and feature patio tables and chairs for outdoor dining, as well as turf areas for cornhole and other outdoor games.
The project will be developed in two phases, with Phase I consisting of four buildings totaling 359,700 square feet and Phase II is slated for three buildings totaling 295,700 square feet.
Willmeng Construction is serving as general contractor and Butler Design Group is serving as architect. Construction of Phase I is slated to begin third quarter of 2022 with delivery by the second quarter of 2023.
The project will be developed, owned and managed by EastGroup. Steve Larsen, Pat Harlenm Rick Collins of JLL’s Phoenix office represented EastGroup in the land assemblage and purchase and will serve as the project’s leasing brokers. The sellers assemblage was represented by Jason Barney and John Hartman with High Bridge Partners as joint venture partners.