Multi-phase project in the Southeast Valley continues with seven new buildings
SCOTTSDALE, ARIZ. – Marwest Enterprises, LLC (Marwest) is pleased to announce the ground-breaking of its new 525,000 SF, Class A industrial development, Landing 3, part of a multi-phase, master-planned industrial project at Phoenix-Mesa Gateway Airport in Mesa.
Landing 3, 7827 E. Ray Road, is expected to serve tenants from 5,000- to 250,000-square-feet in the Southeast Valley.
“Congratulations to Marwest Enterprises on the groundbreaking of Landing 3. This brand-new project will join Landing at PMG and Landing 202, in the heart of the Gateway area and close to multiple freeways. An awesome location for a wide range of businesses," Mesa Mayor John Giles said. "It's exciting to watch southeast Mesa maintain its momentum as a thriving economic engine for the entire city.”
Landing Phase III is within an opportunity zone, one of Phoenix’s nearly 90 designated land areas that encourage long-term investments in low-income urban and rural communities with tax incentives for investors.
“The continued success of the Landing is not only an indication of the demand in the market place for Class A spec industrial space, but also a desire by businesses to be in the Gateway area,” said District 6 Councilmember Kevin Thompson. “Adding Landing 3 to the existing 1 million square foot footprint is the perfect new addition to the area and region.”
Marwest partnered on the project with a large institutional equity provider; construction financing was provided by a regional bank.
“We’re excited to grow our relationship with Mesa and our existing partners at PMG,” said David Martens, Principal with Marwest. “There is a tremendous amount of momentum in Mesa. We continue to see significant economic growth and sustained interest for these projects – we’re very pleased to be there.”
Additional partners on the project include: CapMatrix LTD, which served as strategic capital markets advisor on the transaction; Ware Malcomb, architect; Willmeng Construction, general contractor; Hunter Engineering as the civil engineer; and leasing handled by the Wentis/Cosca team at CBRE.