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$48 million acquisition of two parcels
totaling 113 acres in the Eastmark
master-planned community located
in the Mesa Gateway submarket
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PHOENIX, AZ - IndiCap, a newly formed
boutique commercial real estate company specializing in industrial investment
and development in the Arizona and Nevada sectors, in a joint venture with
AECOM-Canyon Partners, announced its entry into the Phoenix real estate market
with the recent $48 million acquisition of two
parcels of land totaling 113 acres in the Eastmark master-planned community
located in the heart of the Mesa Gateway submarket.
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| Pat Harlan |
The project, Eastmark Center of Industry,
will contain 10 buildings totaling over 1.6 million square feet of mid-bay and
cross dock industrial buildings.
Cornerstone companies assisting
in the land acquisition and development include Layton Construction,
Kimley Horn, Deutsch Architecture and Snell & Wilmer.
Pat
Harlan, Steve Larsen and Jason Moore from the Phoenix office
of JLL represented IndiCap in its site selection and land acquisition.
Formed by real estate industry leaders Mike
Chernine and Jason Kuckler, the IndiCap development team brings over
100 years of collective experience to the Arizona and Nevada real estate
markets.
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| Steve Larsen |
Todd Ostransky,
IndiCap’s senior vice president of development (AZ) and Aaron Asmus,
development manager (AZ), will lead upcoming Arizona projects including the
recently acquired parcels of land.
Ostransky is known for his work in the Arizona market
and brings over 25 years of experience and a background in bids, negotiations
and preconstruction management.
Asmus brings over 20 years of national development
management services experience.
AECOM-Canyon Partners, a joint venture partnership
between AECOM Capital, the real estate investment arm of global infrastructure
firm AECOM, and Canyon Partners Real Estate, the real estate direct investing
arm of Canyon Partners LLC, a global alternative asset management firm, is
providing joint venture equity capital as well as best-in-class development
expertise to the project.
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| Jason Moore |
“We are excited to kick off our first project in
Phoenix’s burgeoning commercial real estate market,” said Jason Kuckler,
one of the principals at IndiCap. “This location was strategically selected to
allow for easy access through multiple freeway entrances and it offers an
incredible opportunity to lease and purchase buildings amongst some of the
biggest household names.
"We
see Phoenix as an industrial juggernaut in the Western U.S. which could quickly
mature into a core market.”
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| Mike Chernine |
Buildings at Eastmark Center of Industry will
range from 83,200 square feet to 426,400 square feet with 30’ to 36’ clear height and 160’ to 500’ building depth.
Future phases may include the
opportunity for build-to-suit. The project is located within the Elliot Road Technology
corridor, minutes from a full-diamond interchange at Santan Loop 202 and Elliot
Road, as well as the State Route 24 extension.
“This Class A project will meet the needs of a
wide range of corporate and advanced manufacturing users, from pharmaceuticals
to the semiconductor industry,” said Moore.
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| Jason Kuckler |
“JLL research shows that metro Phoenix ended 2021
with the strongest leasing activity on record, with almost 26 million square
feet of space leased.
"The Southeast Valley represented 47.8% of
those deals. This is a region that is primed for growth and IndiCap is well
positioned to take advantage of, and continue to drive, that growth.”
Through their strong local relationships, the
IndiCap team will continue their pursuit of prime industrial land in the
Phoenix metroplex throughout 2022 and beyond.
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| Todd Ostransky |
IndiCap has multiple new industrial projects in
its pipeline totaling 37 buildings with over 8 million square feet spread out
through the Loop 303 Corridor, Central Phoenix, Mesa, Gilbert and Casa Grande.
About IndiCap
IndiCap, founded in 2021, specializes in
industrial investment, development, consulting, and management services in
Arizona and Nevada, with growth and expansion plans across other Western States.
IndiCap's
scope consists of site selection, design, site plans and construction, finance
and budgets, and full development services.
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| Aaron Asmus |
About AECOM-Canyon Partners
AECOM-Canyon Partners is a joint venture between
AECOM Capital, the real estate investment management arm of global
infrastructure firm AECOM, and Canyon Partners, LLC, a global alternative asset
management firm with over $27 billion in assets under management.
AECOM-Canyon Partners was established to develop large-scale, institutional
quality commercial real estate projects in top U.S. markets.
In addition to
capital, AECOM-Canyon Partners provides best-in-class design, construction
management and engineering expertise as well as credit support for its
development partners.
CONTACTS:
Stacey Hershauer
focusAZ
P 480.600.0195
www.focusaz.com
Stephanie Ceccarelli, MassMedia
sceccarelli@massmediacc.com
702-433-4331
AECOM-Canyon Partners
Kris Cole
Pro-canyon@prosek.com
310-652-1411
https://www.aecomcanyon.com/.
indicapinc.com.
