Developer Overton Moore Properties and its partner, Invesco Real Estate, have started construction on Nextwave Tempe. The project consists of three Class A industrial buildings totaling 689,000 square feet on 35.5 acres at the former site of the Big Surf Waterpark in northeast Tempe at 1500 North McClintock Drive.
The three divisible buildings can accommodate customers from 32,000 square feet to 258,727 square feet and are expected to be delivered in Q4 of 2025. Each high-image building has unique features that include heavy power (with expansion), abundant parking, full HVAC in the warehouses, spec offices, and private, secured truck yard areas.
The property is four miles east of the Phoenix Sky Harbor International Airport, near Arizona State University and Tempe Marketplace, and is surrounded by an excellent labor pool with an estimated 3.2 million people accessible within a 30-minute drive from the property.
Nextwave, minutes from the Loop 101 and Loop 202 freeways intersection, will be the first major industrial project completed in the north Sky Harbor Airport submarket in the past two decades.
OMP views the industrial park’s state-of-the-art design and strategic positioning to become a cornerstone for growth and innovation in the area.
CBRE’s John Werstler, Cooper Fratt and Tanner Ferrandi are the listing brokers for Nextwave Tempe, representing OMP and Invesco.
Photo courtesy of Overton Moore Properties
