The time is right for spec development in Phoenix, especially if it appeals to tech tenants, LGE Design Build president Dave Sellers tells us. Recently the company finished work on Papago Tech at 500 S 48th St, a 63k SF research, development and manufacturing shell building near Phoenix Sky Harbor. Silagi Development, a real estate investment firm based in Thousand Oaks, CA, owns the building.
“As a speculative building, we wanted to ensure it included all the elements future users would find appealing in a manufacturing and R&D building," Dave says. Among other features, the building has 24-foot clear height ceilings, ample power and freeway visibility, with a locational advantage in its proximity to ASU and Sky Harbor.
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