Developer Overton Moore Properties and its partner Invesco Real Estate have started construction on Nextwave Tempe on the former site of Big Surf Waterpark in Tempe.

The project at 1500 N McClintock Drive consists of three Class A industrial buildings totaling 689,000 square feet on 35.5 acres at the former site of the Big Surf, a press release explained.

CBRE's John Werstler, Cooper Fratt and Tanner Ferrandi are the listing brokers for Nextwave Tempe, representing OMP and Invesco.  The project is experiencing leasing interest, with active pre-leasing negotiations underway, according to the release.

Werstler said in the release that Nextwave Tempe will be a “premier” industrial park, and its location on the former beloved water park will make it an ideal hub for tenants. 

"The park is poised to attract leading-edge companies in aerospace, advanced manufacturing, e-commerce and logistics, all of which are pivotal to the burgeoning industrial sectors in the region,” Werstler said. 

Nextwave, minutes from Loop 101 and Loop 202 freeways intersection, will be the first major industrial project completed in the north Sky Harbor Airport submarket in the past two decades, the release stated.

OMP views the industrial park's state-of-the-art design and strategic positioning to become a cornerstone for growth and innovation in the area. 

Jason Hines, managing director at OMP, said in the release they are excited to transform the iconic site that will meet the needs of innovative companies in the years to come.

“With its strategic location, cutting-edge design, and access to a skilled labor force, Nextwave Tempe provides an ideal hub for companies looking to thrive in greater Phoenix,” Hines said.

The three divisible buildings can accommodate customers from 32,000 square feet to 258,727 square feet and are expected to be delivered in fourth-quarter 2025, the release stated.

Layton Construction is the general contractor for the project, and HPA Architecture is the architect on record.