Dermody Properties, a national private equity real estate investment, development and management company focused exclusively on the logistics real estate sector, is set to break ground on Phase I of LogistiCenter℠ at Copperwing, commencing construction for one of the largest business parks in Arizona history.
LogistiCenter℠ at Copperwing is located at the Northern Parkway Expressway & Dysart Road in El Mirage, Arizona, a suburb of Phoenix. Phase I of the project includes the construction of the first two buildings, totaling 566,602 square feet of Class A facilities designed for modern logistics use. When completed, the 961-acre site will feature more than 10 million square feet of modern distribution space with individual buildings accommodating a wide range of user sizes up to 1.5 million square feet.
Dermody Properties executives plan to welcome Mayor of El Mirage Alexis Hermosillo; Vice Mayor of El Mirage Monica Dorcey; El Mirage City Councilmembers Roy Delgado, Bob Jones, Anita Norton and Donna Winston; and several other representatives from the City of El Mirage including Fire Chief Michael Long and Police Chief Paul Marzocca. Lt. Col. Joshua Larsen from Luke Air Force Base will also be in attendance.
“The Phoenix metropolitan area is one of the fastest-growing regions in the country and led the entire U.S. in large-city population growth from 2010 to 2020,” said Patrick Gallagher, Partner in Dermody Properties Southwest Region. “The West Valley submarket features two of the top 10 fastest growing cities in the U.S.—Glendale and Buckeye. Dermody Properties knows this region will be attractive to large distribution users and companies with manufacturing operations because of the area’s strong labor base and convenient access to Phoenix and most western markets, including the Southern California region and Los Angeles ports.”
Dermody Properties acquired the property in late 2021 from the John F. Long Family Trust, known for developing more than 30,000 homes over four decades, including Arizona’s first master-planned community. Novo Development, which has been involved with the project since its inception, will continue to be involved with this new venture.
Dermody Properties is a privately-owned real estate investment, development and management firm that specializes in the acquisition and development of logistics real estate in strategic locations for e-commerce fulfillment centers, third-party logistics and distribution customers. Founded in 1960, Dermody Properties has invested more than $10 billion of total capital across all platforms nationwide, having acquired and developed approximately 110 million square feet of logistics and industrial facilities. In addition to its corporate office in Reno, Nev., it has regional offices in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas and New Jersey.
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