Phoenix, AZ (March 19,
2014) – Groundbreaking day has arrived for the first phase of Airport
I-10—a Wentworth Property Company/Clarion Partners Class A industrial
project being leased by the Phoenix
office of JLL that, at completion, will represent one of the largest Sky
Harbor Airport-area speculative industrial developments in Phoenix history.
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| Pat Harlan |
Located at the northwest
corner of 24th Street and Rio Salado, Phase I of Airport I-10
Business Park includes three Class A industrial buildings totalling more than
600,000 square feet (277,954 square feet, 169,109 square feet and 156,000
square feet).
Phase I of the project is
slated for completion in the fall of 2014. At build out, the 58-acre site will
comprise five Class A industrial buildings totalling 920,584 square feet.
“This is the last large,
developable parcel left in the Sky Harbor International Airport submarket—an
area that consistently ranks among the Valley’s top industrial locations,” said
Wentworth Property Company Principal James R. Wentworth.
“Airport I-10 is already
garnering great interest. With Phoenix’s continued population and job growth,
we expect this demand to do nothing but rise in the years ahead.”
According to JLL research,
the Sky Harbor Airport submarket absorbed approximately 1 million square feet
of industrial space last year—almost 30 percent of the more than 3.5 million
total square feet of industrial space absorbed Valley-wide in 2013.
Airport I-10 will offer a
modern environment for corporate users and will be fully equipped with
state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear
heights, cross-dock loading and 140- to 200-foot truck courts.
 |
| Steve Sayre |
“About 90 percent of the
buildings in the airport submarket were built before 2000 and lack the modern
features that today’s users are looking for,” said JLL Executive Vice President
Pat
Harlan, who serves as an exclusive leasing broker for the project along
with JLL Executive Vice President Steve
Sayre, JLL Associate Kyle
Westfall and JLL Managing Director Mark
Detmer.
“Airport I-10 delivers
those benefits at a central location—a site that is truly at ‘main-and-main’
for industrial real estate.”
“Users are looking for
space in the 50,000- to 300,000-square-foot range and there simply isn’t the
product to accommodate that demand,” said Harlan.
For a complete copy of the company’s news release, please
contact:
Stacey Hershauer
focusAZ
Marketing & Public Relations
(480) 600-0195
Denise D. Resnik
(602) 956-8834, x111
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