Construction starts on two industrial projects in major corridors of the Valley

Construction starts on two industrial projects in major corridors of the Valley

Article Originally Posted By PhoenixBusinessJournal On August 4, 2022

Developers have continued to build industrial product of all sizes across the Valley, including two new facilities in growing industrial corridors across the Phoenix metro to meet ongoing demand for space.

This week, Minneapolis-based Ryan Cos. and Phoenix-based DPMG Galveston LLC both started construction on new industrial facilities in Glendale and Chandler.

Ryan Cos. said it broke ground on Hatcher Industrial Park, a 906,000-square-foot speculative, class A facility with two buildings for manufacturing, logistics and supply chain uses on about 50 acres near the corner of Reems Road and Olive Avenue.

The $100 million facility will be developed in partnership with San Diego-based Westcore just south of the existing Rauch and Mark Anthony Brewing manufacturing buildings near the BNSF rail line and the Loop 303, which continues to see a majority of the new industrial development and pre-leasing in the Valley.

“Given historically low vacancy rates, this is the ideal time to bring more speculative industrial space to the market,” said Josh Tracy, vice president of Ryan Cos. in a statement. “Companies are looking for space that is adaptable to their evolving needs and they need it fast.”  

Ryan Cos. is also the general contractor for the facility. Ryan A+E Inc. is the architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle of JLL are handling leasing for the facility, which is expected to be completed by June 2023.