Phoenix Investor Exploring 4M SF Business Park

Shopoff Realty Investments received the okay from the Mesa City Council to move forward on a 270-acre mixed-use development on a former Mesa dairy farm off the 202 and Elliot. Shopoff is currently exploring various development opportunities for the project, called The Block on Elliot, with potential plans including 12 to 15 buildings, with up to 4.1 million leasable square feet, and an average building size of 500,000 square feet.

William Shopoff added, “The Phoenix market currently has more than 15 million square feet of industrial product under construction, and 55% of what has already been delivered is pre-leased (as of Q1 2023). With this high level of demand, we anticipate this high-quality project will be absorbed into the market quickly.”

The development will feature manufacturing facilities on a large scale, as well as amenities to accommodate shared office/conference rooms for tenants, as well as fast casual dining options for businesses who locate within the project.