Colliers fully pre-leases Gilbert Crossroads Business Park
Colliers in Arizona has completed the leasing of Gilbert Crossroads Business Park, signing every tenant before construction completion. EastGroup Properties’ (NYSE: EGP) award-winning project is located on Germann Road with 1,400 feet of prime frontage and consists of four buildings.
“This is the first time in my 35 years of industrial brokerage that we have fully pre-leased a sizable industrial park,” says Paul Sieczkowski, SIOR, senior executive vice president with Colliers in Arizona. “The success of this effort is due to the project’s high quality ownership,location and design; an impressive leasing team effort and the dynamic nature of the Valley’s industrial marketplace. This park is ideally located in the increasingly popular East Valley with very few competing properties.”
Sieczkowski, Justin Sieczkowski, Rob Martensen and Mallory Wayne serve as exclusive leasing agents for the Gilbert Crossroads Business Park. The project won the 2020 Best of NAIOP Speculative Industrial Project of the Year (less than 365,000 sf). The two-phased project consists of four light industrial buildings totaling 318,000 square feet. The park was designed by Butler Design Group and was developed by EastGroup Properties.
Tenants in the project include DB Schenker, Morsco, Zero Electrical Vehicles (ZEV), Origami Owl and Hat Club. Phase I of the development was started in July 2019 and completed January 2020. Phase II was started in January 2021 and completed in July 2021.
Gilbert Crossroads Business Park offers industrial suites ranging from 11,730 to 103,298 square feet. The park is approximately ¾ mile from the full diamond interchange at Loop 202 and Gilbert Road. The rapidly growing and highly desirable area features more than 1.2 million square feet of retail amenities within ¼ mile of the park.