Mohr Capital, a Dallas-based privately held real estate investment firm, acquired 46.26 acres in one of Arizona’s fastest-growing cities to develop Summit Business Park, a Class A industrial business park in the West Valley.
Summit Business Park will offer a combined space of 704,472 square feet of leasable industrial space with 453,960 square feet in Building 1 and 250,512 square feet in Building 2. These state-of-the-art buildings will be ideal for distribution, manufacturing and logistics companies throughout the southwest with capabilities to serve numerous large urban areas located within a one- or two-day delivery zone.
“Summit Business Park brings Mohr Capital into one of Arizona’s fastest-growing cities. The business park will answer the needs of the growing community and new industries entering the West Valley submarket,” said Tom Theobald, senior vice president for Mohr Capital. “We are thankful to work with JLL on this project and look forward to seeing our presence in the West Valley grow.”
Summit Business Park will break ground in August 2022 and is slated for completion in summer 2023. Building 1 will be equipped with 106 dock doors, four grade-level doors, 144 trailer parking spaces, 368 auto parking spaces, and a fully secured 145-truck court with a 36-foot clearance. The neighboring Building 2 will feature 58 dock doors, four grade-level doors, 81 trailer parking spaces, 338 auto parking spaces and a fully secured 135-truck court under a 32-foot clearance. The corporate business park environment is conveniently located less than five minutes from Loop 303, Loop 101 and Northern Parkway, making it highly accessible to Maricopa County.
The JLL team of Tony Lydon, John Lydon and Kelly Royal are the leasing agents for the project.
Mohr Capital is a privately held real estate investment firm specializing in the acquisition, development and value enhancement of office, industrial, hotel and retail assets throughout the U.S. The Mohr Capital team has decades of experience in commercial real estate and has completed more than $1 billion in transactions. Guided by a value-driven strategy and an entrepreneurial spirit, the company relies on strong long-term relationships and possesses keen market insights needed to capitalize on undervalued or underperforming properties. With its family office structure, Mohr Capital can close quickly and has a proven track record of delivering the highest risk-adjusted returns.