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July 25, 2024
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Greystar Real Estate Partners Starts Work on AZ Industrial Park


Greystar Real Estate Partners has broken ground on Caliber by Greystar, a three-building, Class A industrial park in Peoria, AZ. The project is the first element to break ground at Greystar’s Peoria Place, a $500 mil mixed-use master plan designed to revitalize a central historic downtown infill land site in Peoria.

Caliber is located along the US 60, at the southwest corner of 79th and Grand avenues. It is part of the 88-acre Peoria Place, which is slated to include luxury apartments, build-to-rent single family homes, residential over retail, 20 acres of open space and the Caliber light industrial park.

At build-out, Caliber will total 411.9k sf of Class A product broken down as a 114.4k sf Building A, 122.9k sf Building B and 174.6k sf Building C, with Buildings A and B offering divisibility to serve a diversity of uses and tenant sizes.

All buildings at Caliber will feature 32’ clear height, modern 50’ x 52’ column spacing, energy efficient LED lighting and ESFR sprinklers. Building A will be served by a 137’ truck court. Buildings B and C will share a 190’ truck court. Together, the park will offer 99 dock doors and six drive-in doors, as well as parking for 554 cars. Each building is also being built with a move-in-ready office build-out of up to 2k sf.

JLL’s Tony Lydon, John Lydon, Hagen Hyatt and Kelly Royle are the project’s exclusive leasing brokers. The general contractor is Layton Construction. The project architect is Deutsch Architecture Group.

“Caliber is an exciting start to Greystar’s vision for Peoria Place, creating close-to-home employment opportunities and offering valuable advantages for logistics users such as direct access to U.S. 60, a community of nearby warehouse and logistics companies, and move-in-ready office buildouts,” said Lydon. “The office buildouts, in particular, will resonate well with companies looking for speed-to-market options that get them quickly up and running in Phoenix.”

An enclosed conduit raceway infrastructure at each building will offer tenants at Caliber the opportunity to double their power capacity from 3,000 to 6,000 amps, allowing for expanded capabilities and value-add improvements such as roof-mounted solar systems and EV charging stations.

Caliber is situated directly along the U.S. 60, two miles from Loop 101 and within a 30-minute drive of 3,450 transportation/warehouse and manufacturing firms, and more than 14,180 employees from those sectors. It is also minutes from major retail, dining and entertainment destinations including Westgate and State Farm Stadium.

Completion of Caliber is slated for Q2 2024. Greystar’s first residential projects at Peoria Place are expected to break ground this summer, with additional development to follow.

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