JX Nippon Mining & Metals announced its purchase of 65 acres for $29 million and plans in the first phase to building two manufacturing buildings and an adjacent office building, totaling approximately 240,000 and 27,000 square feet, respectively. (Courtesy JX Nippon)
By Josh Ortega, Scott Shumaker | Mesa Tribune
The stock of industrial real estate around the Phoenix-Mesa Gateway Airport continues to shrink with two recently announced land deals.
Insiders say the deals reflect the momentum of the industrial real estate market in southeast Mesa, which is being propelled by a number of favorable conditions.
In late March, EastGroup Properties, Inc. paid $13.5 million for 50 acres at the Loop 202 and South Hawes Road for the Gateway Interchange project. The company plans to build seven industrial buildings totaling 655,400 square feet at the site.
A spokesperson for EastGroup said the complex will have all the features required to support a wide range of modern industrial users, including high-tech manufacturing and logistics. The company also touted amenities for workers baked into the design, including six outdoor covered patios that are interconnected by trails and turf areas for cornhole and other outdoor games.
