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| Planned Cactus 303, an 81-acre, $150 million industrial park in Surprise, AZ |
SURPRISE, AZ –
On behalf of Baker Development Corporation (BDC), the Phoenix office of JLL has
completed an 81-acre land acquisition for the development of a $150 million
industrial park.
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| Anthony Lydon |
BDC purchased the land, located on the northeast corner of Cactus Road and the Loop 303, for $20 million.
It will
build approximately 1 million square feet in seven Class A industrial
buildings, with a complimentary retail component along the Cactus Road frontage.
JLL Managing Directors Anthony
Lydon and Marc Hertzberg, and Executive Vice President Riley
Gilbert represented BDC in the land acquisition. The JLL team will also
serve as Cactus 303’s exclusive industrial leasing brokers.
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| Marc Hertzberg |
“We feel we are in the right place at the right time,” said Daniel J. Slack, BDC’s Principal leading the development.
“The Loop 303 corridor is in the path of
growth and will continue to be for the foreseeable future, considering a
confluence of market dynamics on the I-10 to the south and TSMC’s $20 to $30
billion investment to the north.
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| Riley Gilbert |
"These economic drivers converge in the Loop 303 market.”
“Cactus 303 will create meaningful
jobs and generally bolster the business and residential ecosystem that is the
West Valley’s backbone,” said Gilbert.
“The Loop 303-fronting location will also
allow the project to accommodate a wide range of signature corporate
development opportunities including last-mile fulfillment, light assembly, flex
office-showroom and even commercial retail.”
Buildings at Cactus 303 will range
from 82,000 square feet to 378,600 square feet.
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| Ed Beeh |
The site is also available, and can
accommodate, potential build-to-suit users of up to 600,000 square feet looking
for branding opportunities and immediate access along the Loop 303.
Amenities include 32’ to 40’ clear
height, dock high and grade level doors, up to 200’ truck courts and extensive
– and expandable – auto and trailer parking.
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| Chuck Gibson |
It is located within a robust labor pool and a community of
corporate neighbors including Red Bull, White Claw, Ball Enclosure, Crescent
Crown and Expeditors.
Cactus 303 also sits within the
3,300-acre Prasada master plan, featuring single-family homes, a 180-acre auto
mall and a 60-acre power center.
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| Robbie Petty |
The project architect is Butler Design. Layton Construction will serve as the general contractor.
About Baker Development Corporation
Baker Development Corporation is an
experienced, well capitalized, privately owned real estate development company
based in Chicago that has built a reputation for getting politically sensitive
deals approved and complicated development projects constructed.
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| Daniel J. Slack |
BDC has developed 800,000 square feet of warehouse/distribution center product in Goodyear, Arizona, with another 2 million square feet planned in the greater Phoenix area.
CONTACT:
Stacey Hershauer
focusAZ
