Dallas-based Jackson-Shaw has partnered with Las Vegas-based LaPour Partners Inc. to break ground on Parc Pinnacle, a 311,840-square-foot, three-building speculative industrial project in Deer Valley, Arizona. The Phoenix office of JLL was granted the leasing assignment for the new development.
“We have had a successful history developing quality industrial products in Deer Valley over the past 17 years and are looking forward to addressing the modern needs of new and growing business in the area,” said Jeff LaPour, President of LaPour.
At build out, the A-1 zoned Parc Pinnacle will total more than 311,000 square feet, broken down into a 70,400-square-foot Building 1, 155,040-square-foot building 2 and 86,400-square-foot Building 3. Each building will feature modern, flexible industrial space designed for manufacturing, distribution, assembly and related industrial uses. This includes up to 32-foot clear height ceilings, dock-high and grade-level loading, ESFR sprinkler system, 180-foot truck court depth and tenant identity that is visible from Pinnacle Peak Road.
JLL Executive Vice Presidents Pat Harlan and Steve Sayre, and Vice President Kyle Westfall have been named as the project’s exclusive leasing brokers.
“This is a substantial project that will meet a very steady demand for Class-A, institutional-quality space in North Phoenix,” said Pat Harlan, JLL executive vice president. “Tenants will appreciate the highly functional buildings and a prime distribution location that’s only minutes from multiple major freeways, the interstate and two airports.”
Parc Pinnacle, which is slated for completion in early 2018, is situated on 20 acres at the northwest corner of Pinnacle Peak Road and Central Avenue – in the heart of the Deer Valley submarket and close to Loop 101, Interstate 17 and State Route 51. It is also one mile from Phoenix Deer Valley Airport, within 20 minutes of Sky Harbor International Airport and surrounded by more than 1.7 million square feet of retail and restaurant amenities.
Parc Pinnacle is Jackson-Shaw and LaPour’s newest addition to a longstanding successful history in this sub-market. Over the past 15 years, the two companies have developed approximately 914,058 square feet in seven buildings, and have bought, sold and developed nine parcels of vacant land consisting of more than 300 acres in Deer Valley. Additional developments include the 177,700-square-foot, three building Parc 17 industrial project, located in the Sky Harbor Airport submarket. To date, Jackson-Shaw has completed more than 500,000-square-feet in the Phoenix area.
LaPour also completed Pinnacle Park Business Center I and II, which together totals seven buildings and 283,544 square feet of industrial space in the Deer Valley submarket, and is developing the Camelback Collective, a mixed-use project on Camelback Road between 28th and 29th streets that, upon completion, will include 120,000 square feet of modern, Class-A office space, a 160-room AC by Marriot hotel and surface and subterranean parking.
