New York City-based Mack Real Estate Group recently started construction on the first seven buildings of a 3 million-square-foot industrial park near the Taiwan Semiconductor Manufacturing Co. plant in Phoenix.
Called Mack Innovation Park Deer Valley, the planned facility will be developed about six miles away from TSMC, just east of Interstate 17 and north of the Phoenix Deer Valley Airport.
The first phase of the park will comprise 917,000 square feet of speculative warehouse space on two sites, called Site A and C, at the southeast corner of 19th Avenue and Alameda Road and at North Central Avenue and Pinnacle Peak Road. Mack Real Estate Group declined to share the value of the facility.
The first seven buildings will range in size from 63,000 to 208,000 square feet each and can fit tenants that need as little as 4,800 square feet, said Dallas-based Stream Realty Partners, the leasing firm for the project. The noncontiguous sites are currently zoned for uses such as heavy manufacturing and are ideal for semiconductor suppliers or other industrial users looking for space in the Deer Valley submarket.
The first phase of the project is expected to be delivered in 2023. The second phase, which will include an additional 409,839 square feet, is expected to start construction in 2023. Mack Real Estate Group also has more than 115 acres of land available for sale, build-to-suit opportunities or future speculative buildings.
Rusty Kennedy and James Cohn of Stream Realty Partners, which recently opened a Phoenix office, will serve as the leasing brokers for the facility. Scottsdale-based Nitti Builders LLC is the general contractor on the project. Scottsdale-based McCall & Associates Architects and Phoenix-based Deutsch Architecture Group are the architects.
“This state-of-the-art development located within one of the most product-constrained submarkets in greater Phoenix promises to provide a great solution for advanced manufacturers, distributors, technology companies, and other industrial users,” Cohn said in a statement. “It offers a thoughtful design, unmatched access to labor, and unparalleled access to freeways that service the entire metro Phoenix area.”
The buildings will also feature clerestory windows, which are above eye level, concrete truck courts, and rear-loaded dock-high loading doors. All warehouses will boast Early Suppression, Fast Response sprinklers, LED lighting, clear heights of 24 feet, 30 feet, or 32 feet, and ample car parking, Stream Realty Partners said.
Mack purchased the land for the Mack Innovation Park in early 2021. The site was designated a “supplier site” for Taiwan Semiconductor Manufacturing Co.’s manufacturing facility. So far, Mack sold a portion of their site to Sunlit Chemical, a supplier to TSMC, which has started construction on its $100 million facility.
Mack Real Estate Group has in recent years been aggressively growing its presence in Phoenix. In March, the development firm bid on and won 124 acres in north Scottsdale that can accommodate up to 4.3 million square feet of development, including industrial space, near Loop 101 and Bell Road.
The Deer Valley industrial submarket currently has a 3.6% vacancy, or about 615,512 square feet of available space, while about 761,504 square feet of space was under construction in the second quarter of this year, according to Cushman & Wakefield’s Q2 industrial report for the Phoenix metro.
Suppliers for TSMC have continue making plans for mostly the north Phoenix area and Casa Grande in Pinal County, which has seen multiple suppliers announce plans to build new facilities. The Deer Valley area has become one of the most active commercial markets in the Valley in the past two years.
Join the Phoenix Business Journal and Pacific Premier Bank for our fourth Annual Small Business Awards! These awards recognize excellence among entrepreneurs and small businesses in Phoenix.
Are you a private company in Phoenix that is rapidly growing? Nominate today for our specialty awards!
© 2022 American City Business Journals. All rights reserved. Use of and/or registration on any portion of this site constitutes acceptance of our User Agreement (updated January 1, 2021) and Privacy Policy and Cookie Statement (updated July 1, 2022). The material on this site may not be reproduced, distributed, transmitted, cached or otherwise used, except with the prior written permission of American City Business Journals.
About Author
