Real estate firms partner up for West Phoenix $250M industrial development
Special to Independent Newsmedia
Posted 11/27/23
Two real estate firms have partnered up for Park Algodon, a proposed $250 million speculative industrial project on more than 87 net acres in West Phoenix.
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Phoenix-based Creation and Clarion Partners will partner to construct a two-phase, speculative industrial park totaling approximately 1.3-million-square-feet at the northwest corner of Loop 101 and Indian School Road in Phoenix’s West Valley.
Cushman & Wakefield announced the joint venture equity partnership.
“We’re excited to work alongside Clarion Partners on this significant project, addressing a key gap in the West Phoenix industrial market,” Grant Kingdon, principal of Creation’s Mountain West region, shared in a press release. “Park Algodon serves as a catalyst to attract new employers to the area and offers exciting, meaningful employment opportunities for an underserved area of the Valley.”
Phase I of the industrial park will consist of four buildings totaling 670,000 square feet that is expected to break ground by the end of the year. Phase II will feature a single 556,000-sqaure foot warehouse building that is expected to be completed in late 2025.
LGE Design Build will lead construction for the project.
