Deer Valley: Magnet For New Spec Industrial
A JV between Griffin Opportunities LLC, Adam Norvell and Walter Cale completed Desert Gateway, a two-building light industrial spec development in the Deer Valley submarket of north Phoenix. The buildings total 173k SF and are on a 10-acre site at 909 West Pinnacle Peak Road, east of I-17.
The development came on the heels of a number of other industrial projects in the submarket. They include Park Ladera, a Trammell Crow development completed in 2015 and now fully leased, and Trammell Crow and Principal Real Estate Investors' Corridors Industrial Park, which was finished last year and counts aerospace company Vitron among its tenants.
“The growth of the Deer Valley submarket has increased demand for high-quality and functional industrial space,” said McShane Construction Co. vice president Milt Elmer, whose firm built the project. DAUM Commercial's Carl Johnson, Chris Rogers and Trevor McKendry are marketing the space.
