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PCCP, Hopewell Form JV for Three-Building Industrial Development in Phoenix
PCCP, LLC formed a joint venture with Calgary, Canada-based Hopewell Development for the speculative development of three Class A industrial buildings totaling 245,418 square feet in Phoenix’s Southwest Valley submarket. Two buildings (78,150 square feet and 84,708 square feet) are situated on a 10.56-acre parcel along 67th Avenue, and one 82,578-square-foot building is situated on a 4.81-acre site along 43rd Avenue.
Construction is expected to wrap up on the two fully-entitled projects in late 2019. Each building will feature 28-foot to 32-foot clear heights, between 17 and 25 dock high doors in addition to grade-level doors, and one speculative office build-out.
PCCP’s Mike Johnson says, “These industrial buildings will target a tenant size segment that has seen strong demand this cycle, but is undersupplied in the greater Phoenix region.”
The JV equity was sourced by JLL’s Bo Mills and Mark Detmer.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development