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ViaWest Group and Nicola Wealth Real Estate Team Up to Develop 20.77 Acres of Permit-Ready Land in Mesa

4/15/22

ViaWest Group and Nicola Wealth Real Estate have purchased a 20.77-acre industrial development site in Mesa, AZ for $9.692 mil. The development will be called Advanced Industrial Park.

The development will be comprised of three single-loaded Class A industrial buildings. Building A will be 122.7k sf, Building B will be 131.7k sf, and Building C will be 80.6k sf, with a total rentable square footage of 335.1k sf. Ownership intends to lease these buildings with multiple tenants to take advantage of pent-up demand in smaller suite sizes in the East Valley. Buildings are divisible down to approximately 20k sf.

A fully approved, permit-ready plan set was included in the land purchase. The ability to bypass the delays incumbent in municipal review in today’s market, will allow ViaWest and Nicola to deliver the buildings ahead of the many projects that are currently in the planning phase of development in this very active industrial submarket. Cawley Architects and JMC Engineering are the A&E design team on the project. The ownership has engaged national general contractor, ClayCo, for the horizontal and vertical development.

Advanced Industrial Park is scheduled to break ground in May 2022 and is expected to deliver 1Q 2023. Jackie Orcutt with CBRE was involved in brokering the transaction and will handle leasing of the new project.




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