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8/14/13
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The MACK Company has acquired a 9.4-acre land site in north Phoenix for the development of a new, 169k sf Class A industrial project. The development, MACK Pinnacle, is located just west of the southwest corner of Pinnacle Peak Rd and 7th St. The land cost $2.685 mil.
MACK Pinnacle will encompass two Class A industrial buildings, one at 90.6k sf with 30-foot clear height. The other structure should come in at 78.3k sf with 24-foot clear height. Additional features include A-1 light industrial zoning, ESFR sprinkler system and a location on a major intersection with immediate access to the two main transportation corridors in the submarket, Interstate 17 and the Loop 101 freeway.
The buyer plans to kick off construction at the site very soon. The new project is scheduled to be completed in May 2014.
Steve Sayre, Pat Harlan, Mark Detmer, Bo Mills and Kyle Westfall of Jones Lang LaSalle represented The MACK Company. Luke Lewis of Luke Land Realty repped the seller, 7th Street & Airport Drive II, LLC. According to JLL, MACK developed approximately 500k sf of industrial product in the submarket almost a decade ago.
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