Rendering of ATLAS Exchange (courtesy of ATLAS)
Low-coverage approach adds operational flexibility with secured yards and expanded truck courts
Mesa, Arizona – (April 4, 2025) — Scottsdale-based ATLAS Capital Partners (ATLAS), along with development partner Hawkins Development Company, has announced the $13,794,586 acquisition of approximately 38 acres in Mesa, Arizona’s Elliot Road Tech Corridor for the development of ATLAS Exchange. The four-building, Class A industrial project is differentiated by its low-coverage building designs with large, secured and screened yards, offering operational flexibility to an increasingly diverse Arizona industrial market.
Located at 4140 S. Signal Butte Rd. in Mesa, Arizona, ATLAS Exchange will span four freestanding buildings ranging from 40,000 to 100,000 square feet. Design plans include top-tier finishes in an amenity-rich environment with shaded ramadas and pickleball courts.
“ATLAS Exchange runs contrary to nearly all industrial development strategies. Rather than maxing out building coverage, we plan to deliver a modern combination of appropriately sized, high-finish buildings with large screened and secured yards. This style of product is virtually nonexistent in metro Phoenix, yet is in high demand with the ever-evolving industrial landscape,” said ATLAS CEO Chris Walton. “We are thrilled to be the first to implement this plan at scale in Arizona.”
ATLAS Exchange serves single-tenant users seeking a strong identity through their building and operational flexibility through dedicated yard space. This includes myriad occupiers in the Arizona ecosystem, from logistics to telecommunications and contractors to equipment suppliers. In each case, tenants require differentiated product that provides optimal circulation and flexible storage via large, fully paved, lit and secured yards.
“ATLAS Exchange is unparalleled in our market,” said ATLAS COO and General Counsel Dan Gauthier. “As Arizona’s economy continues to expand, developments like this are essential to meet the evolving needs of today’s tenants. We’re proud to contribute to the state’s dynamic growth.”
Early lease negotiations are already underway at ATLAS Exchange, with several tenant commitments nearing completion. Pat Harlan and Steve Larsen of JLL serve as the project’s exclusive leasing brokers and represented both ATLAS and the property seller, Brookfield Properties, in the land transaction.
Since its establishment in 2020, ATLAS has developed and acquired more than $250 million in projects, including a 61,430-square-foot, low-coverage last mile distribution facility in Gilbert, Arizona leased to Frito Lay (PepsiCo), and an approximately 119,950-square -foot warehouse facility in Goodyear, Arizona leased to Fieldcore Services, a subsidiary of General Electric. ATLAS Exchange is the company’s largest land acquisition to date, and part of a strategy to scale a low-coverage product type beyond Arizona into strategic growth markets in the Mountain and Sun Belt states.
The ATLAS Exchange site sits within Eastmark, one of the top master-planned communities in the nation, offering a mix of award-winning residential, retail, restaurant, and industrial development. It enjoys proximity to Loop 202 and Mesa Gateway Airport, in an industrial market peppered with industry giants such as Meta, Apple, Google, Amazon, Boeing, and more.
Construction on ATLAS Exchange is slated to begin in the third quarter of 2025. Build-to-suit opportunities are also available.
ATLAS Site Plan (courtesy of ATLAS)