ViaWest Group, a commercial real estate investment, and services firm with a primary focus on value-add and opportunistic office and industrial properties, has commenced construction on its Airport 48 Industrial project.
The project, which comprises the construction of a 146,526-square-foot Class A industrial building, will be developed at a 10-acre infill site located at 3232 S. 48th Street, just north of Interstate 10 and close to the Sky Harbor International Airport. This site is one of the few remaining in Central Phoenix that the company purchased last year for US$ 4.6M.
Stevens-Leinweber Construction (SLC), a Scottsdale, Arizona-based general contracting firm providing a wide range of construction-related services to the metropolitan Phoenix area is the local general contractor while Kimley-Horn, an American planning, surveying, engineering, and design consulting firm, is the Civil Engineer.
McCall & Associates, a full-service architectural firm located in San Antonio, Texas, designed the project.
Airport 48 Industrial Project lands a tenant before breaking grounds
With Isy Sonabend and Drew Eisen of NAI Horizon handling leasing arrangements, the Airport 48 Industrial building has already landed a large tenant before the developers even broke ground on it. The tenant SouthernCarlson, which is a distributor of construction tools, fasteners, and packaging products has booked a total of 65,000 square feet of the available space.
Steven Schwarz, ViaWest Group’s founding partner, said he was glad his company had already signed a lease agreement for a large portion of the building, and that ViaWest was excited to get the Airport 48 Industrial project up and running.
Schwarz pointed out that the project’s site was a rare find, which was located at an opportunity zone and the tax benefits provided would help in developing the project. He also said ViaWest liked hunting for such low-coverage buildings in good locations, to develop new and better buildings.
