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February 21, 2024
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Creation and Clarion Partners Form Venture for Phoenix Industrial Development

11/22/23

Phoenix-based Creation and Clarion Partners has entered into a joint venture equity partnership for the development of Park Algodon, a proposed $250 mil speculative industrial project on more than 87 net acres in West Phoenix. The plans call for a two-phase industrial park totaling approximately 1.3 msf and located at the northwest corner of Loop 101 and Indian School Rd in the city’s West Valley.

Phase I of the industrial park will consist of four buildings totaling 670k sf that is expected to break ground by the end of 2023. Phase II will feature a single 556k sf warehouse building that is expected to be completed in late 2025. LGE Design Build will lead construction for the project.

Cushman & Wakefield’s Will Strong, Kirk Kuller, Michael Matchett, and Molly Hunt of the firm’s National Industrial Advisory Group – Mountain West arranged the joint venture between Creation and Clarion.

“As the Phoenix Metro industrial market continues to diversify it will remain a resilient real estate sector, particularly with the rise in general manufacturing demand and the commitment by the state of Arizona to the semiconductor industry and emerging technologies such as battery and energy storage. This along with the traditional industrial demand drives will also continue to push demand in the Southwest Valley,” said Kuller.




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