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9/30/24
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Cavan Commercial purchased 18.25 acres of undeveloped land in Mesa, AZ. Located at Pecos Rd and Sossaman Rd, the property, commonly known as Pecos 17, fetched $6.5 mil.
Specific plans for the site have not yet been announced, but the property is fully entitled for the development of 227.2k sf of new industrial product.
Pecos 17 is situated in the Pecos Advanced Manufacturing Zone and has access to robust infrastructure, affordable power capacity, fiber network, natural gas, and abundant water and wastewater capacity. Additionally, the site is under thirty minutes to Phoenix Sky Harbor International Airport, and six minutes away from Phoenix-Mesa Gateway Airport.
Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Callahan Conway of the firm’s National Industrial Advisory Group – Mountain West team represented the seller, Greenlaw Partners, in the transaction.
“This is an excellent industrial development site positioned in the rapidly expanding Southeast Valley, a submarket in the Phoenix Metro that has recently experienced explosive industrial development growth,” said Will Strong. “The property is fully entitled with its long lead-time building materials ordered already, providing the buyer with a true speed to market opportunity.”
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