Developer Creation broke ground ealier this month on Thunderbird Commerce Park, a $60 million industrial center set on a rare 18-acre parcel within Scottsdale Airpark.
The developer commemorated the milestone by hosting a celebratory groundbreaking event with Scottsdale Mayor David Ortega in attendance, joined by the city’s council members, according to a press release. Creation’s affiliated nonprofit, the David R. Sellers Foundation, donated $20,000 to the Arizona Cancer Foundation for Children as part of the ceremony.
“Finding land for industrial and logistics development in Scottsdale is next to impossible, so Thunderbird Commerce Park is already in a class of its own, bringing much-needed Class-A logistics/manufacturing inventory to the highly desired Scottsdale Airpark submarket,” Grant Kingdon, principal of Creation’s Mountain West Region said in the release. “This area is highly supply-constrained and typically boasts the highest rental rates and tightest vacancy levels in the Phoenix-metro market. However, the existing industrial inventory consists of older-generation buildings that don’t meet the needs of modern industrial tenants and are, in many instances, functionally obsolete. The building has features that will attract a variety of tenants in the pharmaceutical, aerospace, electric vehicle and semiconductor sectors, plus traditional distribution and showroom users.”
