(News release)
Turner Real Estate Investments of Newport, CA, broke ground this week on eight free-standing, speculative industrial buildings in Phoenix, Arizona. The buildings will be move-in ready with finished office and warehouse space beginning in the first quarter of 2014. They will range in size from +/-11,000 square feet up to +/-20,000 square feet, and each building will include a private, fenced yard. The project, called Turner Spectrum Ridge at Deer Valley is zoned A-1, light industrial which allows for a very wide variety of uses.
“Turner Spectrum Ridge is the first Class A industrial development to break ground in the Deer Valley submarket in eight years,” says Kent Turner, Director of Marketing for Turner Real Estate Investments. “We believe that with the increased demand from buyers and the lack of available properties in area, the market is ready to accommodate this new development.”
The property is located at 7th Street and Deer Valley Road in Phoenix, Arizona, three quarters of a mile north of the Arizona Loop 101 freeway and just south of the newly constructed Federal Bureau of Investigation’s Regional Headquarters.
Senior Vice Presidents Michael Ciosek and Eric Bell of Voit Real Estate Services have been chosen to market the buildings for sale.
“We’re glad to finally see new development in Deer Valley, and can’t wait for this park to be delivered. There are currently only two existing properties of this type for sale in the area,” said Ciosek. “The newest buildings in Deer Valley are already 7 years old, so we look forward having brand new, state of the art facilities in the marketplace.”
Butler Design Group is the Architecture firm for the project, and Renaissance Construction is building the structures.
About Voit Real Estate Services
Voit Real Estate Services is now an 11 office commercial real estate firm that, through its brokerage and real estate management professionals working together, provides strategic property solutions tailored to clients’ needs. Combining more than 40 years of expertise in brokerage, investment advisory, financial analysis, market research, real estate management and tenant advisory, Voit provides clients with forward looking strategies that create value for their assets and portfolios.
Voit is a privately held, debt-free firm that has successfully navigated numerous market cycles since 1971 and currently employs more than 250 people. Voit has owned, developed and managed over 53 million square feet of commercial real estate, participated in $1.4 billion of construction projects and completed over $36 billion in brokerage transaction volume. Further information is available at www.voitco.com.
About Turner Real Estate Investments
Turner Real Estate Investments (formerly Turner Development Corporation) has been active in commercial real estate investment for more than 35 years, with a focus on industrial, flex, and low-rise office properties in California, Nevada, and Arizona. Our extensive history in acquiring, building, and operating commercial properties in defined and specific markets offers a level of experience and a track record of success that few firms can match. Turner Real Estate Investments’ focused approach has provided us with exceptional relationships in the brokerage, construction, lending, and investment communities – and our high occupancies and “best in class” buildings demonstrate our firm-wide commitment to tenant and owner satisfaction. We pride ourselves on thoughtful and quick decisions that benefit our tenants, owners, brokers, lenders, and investors.
For more information please visit http://www.turnerrei.com.
