Metro Commercial Properties and Principal Real Estate Investor’s joint venture, Des Moines have announced that they will be constructing the third phase of the commerce center; five new light industrial properties that will cover a total of 406,575 square feet to be added to the fully-occupied Metro East Valley Commerce Center. The buildings are the newest additions to the successful Metro East Valley Commerce Center at US 60 and Mesa Drive in Mesa. Metro East Valley Commerce Center currently consists of six existing buildings totaling nearly 700,000 square-feet which is currently fully leased.
The five new buildings, which range from 58,000 square-feet to 112,000 square-feet, are designed by Scottsdale-based McCall & Associates Architects and will be constructed by Phoenix-based Graycor Construction, with completion scheduled in late Q4 of 2021. The buildings can accommodate tenant sizes as small as 6,000 square-feet and as large as 112,000 square-feet, with each tenant suite possessing both dock-high and grade-level loading capabilities. The buildings offer a diverse mix of clear-heights (up to 32 feet), along with healthy quantities of convenient employee and customer parking. Metro East Valley Commerce Phase Three is the twelfth commercial development in metropolitan Phoenix between Metro Commercial Properties and Principal Real Estate Investors.
“We expect increased commercial growth, not just from large corporate users, but also from the small and medium sized businesses that are beginning to regain confidence and reinvest to grow their business in Arizona,” said Janet Herlyck, the Executive Vice President at Metro Commercial. “We remain confident in the strong industrial absorption in the Southeast Valley and believe that with Arizona’s continued solid in-migration, pro-business climate, and the recent commitments from new technology and aerospace corporate users to the market, that a strong growth trajectory is sustainable.” said Kurt Saulnier, principal at Lee and Associates. Once completed later this year, the 11-building, 1.1 million square foot Metro East Valley Commerce Center will be one of the largest master planned commerce parks in the entire Southeast Valley.