Virgin Industrial Park, a five-building, 1.5 million-square-foot Class A industrial project, has broken ground in the booming Loop 303 Corridor, on the northwest corner of Olive and Reems roads in metro Phoenix’s West Valley. The project is being developed by IndiCap, a boutique commercial real estate company specializing in industrial investment and development in the Southwest, and Invesco, a global leader in the real estate investment management business.
JLL Executive Managing Directors Marc Hertzberg, Managing Director Riley Gilbert and associate Kelly Royle are the project’s exclusive leasing brokers. The general contractor is Graycor Construction and the project architect is Deutsch Architecture Group.
Phase I, which includes three Class A industrial buildings totalling 566,121 square feet, 244,958 square feet and 213,765 square feet, is scheduled for completion during the first quarter of 2024.
Phase II, which will add an additional two Class A industrial buildings totalling 297,439 square feet and 235,040 square feet, is projected to break ground during the third quarter of 2023. The site is fully improved and so is also available for immediate built-to-suit opportunities.
