JLL Completes Deer Valley Land Purchase; Announces Plans For 169,000 SF Industrial Project
The Phoenix office of Jones Lang LaSalle completed a 9.4-acre land purchase for The MACK Company. The buyer will soon kick off construction at the site for the development of MACK Pinnacle, a new 169,000 SF, Class A industrial development.
Located just west of the SWC of Pinnacle Peak Road and 7th St. in north Phoenix, the land for MACK Pinnacle sold for $2.685M. The new project is scheduled to complete in May 2014.
The Jones Lang LaSalle team of Executive Vice Presidents Steve Sayre and Pat Harlan, and Associate Kyle Westfall, along with Jones Lang LaSalle Managing Directors Mark Detmer and Bo Mills, represented The MACK Company. Luke Lewis of Luke Land Realty represented the seller, 7th Street & Airport Drive II, LLC.
According to JLL, MACK developed approximately 500,000 SF of industrial product in the submarket almost a decade ago. Its new project, MACK Pinnacle, will encompass two Class A industrial buildings, one at 90,575 SF and 30-foot clear height and the other at 78,281 SF and 24-foot clear height.
Additional features include A-1 light industrial zoning, ESFR sprinkler system and a location on a major intersection with immediate access to the two main transportation corridors in the submarket, I-17 and the Loop 101 freeway.