Phoenix-based developer Creation has completed construction on Park Algodon, a $250 million industrial and mixed-use development, bringing new logistics, retail, dining and employment opportunities to the northwest corner of Loop 101 and Indian School Road in Phoenix.
Spanning approximately 86 acres, Park Algodon combines 1.3 million square feet of Class A industrial space with an adjacent seven-acre mixed-use destination, introducing much-desired modern retail and restaurants alongside one of the West Valley’s most prominent infill employment campuses. The campus offers immediate freeway visibility, strong regional access and a level of design and functionality rarely found in the submarket.
The first phase of the industrial portion of Park Algodon was developed in partnership with Clarion Partners and designed to prioritize visibility, access and long-term functionality. The two-phase speculative industrial development comprises four buildings totaling 725,000 square feet, designed to accommodate tenants ranging from 30,000 to 317,000 square feet. The second phase is permit approved for a single 556,000-square-foot building. Across the industrial campus, the best-in-class buildings feature 32- to 40-foot minimum clear heights, ample power and abundant employee parking.
“Park Algodon is an infill, freeway-visible and highly accessible employment campus in a corridor that has long been starved for new inventory,” said Grant Kingdon, principal of Creation’s Mountain West Region. “With proximity and accessibility to neighboring major markets and ports, the metro Phoenix industrial sector continues to field strong demand from a diverse range of industries. We’re grateful for the entire LGE team for executing on time and within budget, and we look forward to debuting a premier employment campus with our partner, Clarion Partners.”
Separate from the joint venture, Creation developed The Shops at Park Algodon, delivering more than 14,000 square feet of restaurant and retail space. Buildings A and B will be turned over to tenants within the next 30 days, with several openings anticipated later this year. Confirmed tenants include a mix of fast-casual and specialty dining options, such as Einstein Bros. Bagels, Chipotle and Luna Grill, as well as Zara Nail Bar. Only a few remaining suites are available, ranging from approximately 1,100 to 2,600 square feet. The Shops are positioned to serve both the growing employment base at Park Algodon and the surrounding residential neighborhoods, offering modern architecture, prominent freeway visibility and convenient access from Loop 101.
“From the beginning, our goal was to deliver a thoughtfully designed, highly visible destination that supports both employment growth and daily convenience for the surrounding community,” said Alex Bez, chief operating officer at Creation. “Reaching full build-out at Park Algodon is a meaningful milestone for our team, and for West Phoenix, and with retail and leasing momentum continuing, the project is taking shape as a true mixed-use hub for the area.”
Architecture and construction for Park Algodon were led by LGE Design Build. Industrial leasing is handled by Cushman & Wakefield’s Andy Markham and Phil Haenel. Matt Milinovich and James DeCremer with Avison Young are handling the mixed-use leasing.
