Thompson Thrift Commercial has acquired approximately 68 acres zoned for industrial development just west of the southwest corner of Germann and Meridian roads.
“We are thrilled to grow our presence in the booming Queen Creek area,” said Chris Hake, senior vice president, director of the Southwest region of Thompson Thrift. “With a low industrial vacancy of less than 3 percen in the Southeast Valley, and strong demand evidenced by national users like Google, Apple, Amazon, Intel, LG and others, we expect strong interest as other industrial users migrate to the submarket.”
The company plans to begin construction in December on phase I of the project, which will feature approximately 400,000 square feet of manufacturing, warehousing and distribution space between five stand-alone buildings.
When the project is complete, Thompson Thrift Commercial expects to have just under 1.1 million square feet of space between 13 buildings, ranging from 62,000 to 110,000 square feet each.
“As we continue to expand our industrial development platform, we are excited to work closely with the town of Queen Creek to deliver another quality project that we believe will be a tremendous addition to this growing and very dynamic employment corridor,” said Ashlee Boyd, managing partner, Thompson Thrift Commercial.
The closing on the Queen Creek property marks the second industrial project for Thompson Thrift Commercial in the Southeast Valley in the last few months.
The company also has acquired 25 acres at the Northwest corner of Elliot and Signal Butte in Mesa for a mixed-use retail and industrial project.