Real estate firm delivers 1M-square-foot development near Mesa Gateway Airport
Independent Newsmedia
Posted 4/23/24
Greystar, a real estate firm, recently announced that it delivered a more than 1-million-square-foot industrial development near Phoenix-Mesa Gateway Airport.
Greystar said it completed the …
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Greystar, a real estate firm, recently announced that it delivered a more than 1-million-square-foot industrial development near Phoenix-Mesa Gateway Airport.
Greystar said it completed the first phase of the Gateway Grand development at 1,074,858 square feet. Once the second phase is completed, the development will total 2.1 million square feet, according to a release.
“Located at 7852 and 8016 E. Pecos Road, Gateway Grand Phase I sits at the northeast corner of Sossaman and Pecos roads, in the city of Mesa’s Pecos Advanced Manufacturing Zone,” the press release said. “It is minutes from Phoenix-Mesa Gateway Airport, the Loop 202 and State Route 24.”
The first phase of Gateway Grand is split up into two 537,429-square-foot buildings, with at least 150,000 of that square footage being ready for immediate occupancy. The press release said the development has drawn the attention of various aerospace and manufacturing companies.
“Growth in the Gateway submarket is rapid, and Gateway Grand was developed with features that ensure companies can occupy its space immediately,” said Billy Cundiff, Greystar managing dDirector. “Each building has up to 3,200 square feet of move-in-ready office space with enough speculative HVAC and lighting to furnish one building. City approval allows a tenant to occupy 150,000 square feet in either building immediately and move into the remainder of the space as they secure permits.”
The second phase of the development will total 1,095,961 square feet and will be in a single building.
The development is near numerous dining, retail and hotel spots. It is also close to major educational institutions including Arizona State University, Chandler-Gilbert Community College and East Valley Institute of Technology.
“This is a dynamic economic environment with some of the region’s most desirable workforce demographics and tremendous access to air, rail and road networks,” said Jackie Orcutt of CBRE, who is one of the leasing brokers for the development. “Greystar has done an exceptional job of removing the barriers that might impede a company from quickly occupying space at Gateway Grand and joining the area’s impressive mix of companies.”
