Falcon Park 303 Phase I, a speculative industrial product located along the red-hot Loop 303 corridor in Glendale, broke ground last month. This project marks the entry into the Phoenix market of St. Louis, Missouri-based US Capital Development, which has several active projects on the other side of the Mississippi.
Falcon Park 303 Phase I sits on 36.75 acres along Camelback Road at 152nd Avenue, just over a mile east of the Loop 303. The building will feature 40-foot clear heights, with 92 dock-height loading doors and four drive-in loading doors. The 599,468-square-foot space is divisible by half. The building is expected to be completed by August of 2022.
The team working alongside US Capital Development includes Phoenix-based general contractor Willmeng Construction, Fountain Hills-based architect Gray Design Group and Phoenix-based civil engineering firm HILGARTWILSON. The leasing on the development is being handled by the Cushman & Wakefield team of Andy Markham, Mike Haenel and Phil Haenel.
US Capital Development is also working on plans for Falcon Park 303 Phase II, which will be a 325,000-aquare-foot speculative industrial building. Along with Falcon Park 303, Managing Partner and CEO Scott Sachtleben says his firm is in various stages of planning at three other industrial developments across the Valley and expects to have 3 million square feet of industrial product coming out of the ground in the Phoenix market by the first quarter of 2022.
Nelson Grumney, who heads up development opportunities for US Capital in the Phoenix market, says, “The pandemic-fueled surge in e-commerce, increased consumer demand and the reshoring of manufacturing and warehousing has introduced a huge need for additional industrial product nationally. With the large growing population base in the Valley, pro-business regulatory environment and proximity to multiple markets, we feel that we are well-positioned in the Southwest Valley.”
Photo courtesy of Cushman & Wakefield