VanTrust Real Estate, LLC, a full-service commercial real estate development company, broke ground on Phase I of the 150-acre Peoria Logistics Park, which will consist of up to eight buildings. The project represents the largest Class A industrial park to be developed in the Peoria submarket.
Peoria Logistics Park is located just two miles east of the Loop 101 at the northeast corner of Northern and 75th avenues, and offers ultimate flexibility to users seeking Class A industrial space ranging from 100,000 to 600,000+ square feet.
Peoria’s Mayor, Cathy Carlat, along with VanTrust’s Director of Development, Jenna Borcherding, and James Murphy, CEO at Willmeng, spoke at the groundbreaking on April 12.
“Peoria Logistics Park will have a tremendous impact on our community’s long-term prosperity by bringing new industries and jobs to support our skilled workforce and fast-growing population,” said Mayor Cathy Carlat. “Peoria has worked strategically and persistently to attract accomplished partners like VanTrust to our city, and I am thrilled to see this project come to life.”
The first phase features a 157,000-square-foot distribution center for a Fortune 500 company, which is expected to open in early 2023. The 17.5-acre site will feature a modern industrial warehouse with the ability to accommodate future expansion. The Phase I general contractor is Willmeng Construction.
“With the massive amount of expansion in the West Valley, Peoria Logistics Park is now considered an infill location, offering industrial users a central location to reach their customers Valley-wide,” said Jenna Borcherding, Director of Development at VanTrust. “In commencing construction on Phase I of Peoria Logistics Park, it has taken a lot of collaboration and partnership with multiple stakeholders to get to where we are today. Industrial demand is robust, so offering a wide array of building sizes and configurations to meet the needs of today’s users has given us a competitive edge in the market.”
CBRE’s Cooper Fratt and John Werstler represented VanTrust Real Estate as the landlord. The tenant was represented by Ted Liles at Cresa. Butler Design Group is the architect of the project.
“We are so grateful to be working on a build-to-suit industrial project of this caliber that further showcases the Valley’s healthy appetite from large-scale companies,” said James Murphy, CEO of Willmeng. Peoria is only 30 percent developed with plenty of room and support from the city to grow, according to the Peoria Economic Development website.
The project is just 25 minutes from Sky Harbor Airport and within a 10-minute drive to restaurants, hotels, and the Westgate Entertainment District. The Park is the latest project added to VanTrust’s impressive portfolio of office, industrial, and multifamily developments in Arizona and southern Nevada.