By Real Estate Daily News
Phoenix, Arizona – ViaWest Group and Nicola Wealth Real Estate have purchased a 20.77 Acre industrial development site in Mesa for $9.692 million. The development known as Advanced Industrial Park will be comprised of three single-loaded Class A industrial buildings. Building A will be 122,690 SF, Building B will be 131,737 SF, and Building C will be 80,639 SF, with a total rentable square footage of 335,066 SF. Ownership intends to lease these buildings with multiple tenants to take advantage of pent-up demand in smaller suite sizes in the East Valley. Buildings are divisible down to +/- 20,000 SF.
ViaWest and NWRE recognized additional value in this deal as a fully approved, permit-ready plan set was included in the purchase. The ability to bypass the delays incumbent in municipal review in today’s market, will allow ViaWest and NWRE to deliver the buildings ahead of the many projects that are currently in the planning phase of development in this very active industrial submarket. Cawley Architects, and JMC Engineering are the A&E design team on the project. The ownership has engaged national GC, ClayCo, for the horizontal and vertical development.
