Today, Marwest Enterprises announced The Landing at PMG, a 281,000-square-foot Class A industrial product on approximately 20 acres just south of Loop 202 at the southeast corner of Ray and Sossaman Roads in Mesa’s Gateway Area.
“The Gateway Area is one of Mesa’s greatest economic drivers,” Mayor John Giles said. “The Landing at PMG is an excellent addition that will bring new companies and jobs to an active zone with easy freeway and airport access and one of the fastest growing neighborhoods in Arizona.”
The development is zoned light-industrial and will include six buildings with 20- to 30-foot ceiling heights and ranging in size from 11,945 to 112,748 square feet for a total of more than 281,000 square feet. Construction began in late September and will be completed in the second quarter 2019. Once built, the Landing will be visible from Loop 202 with freeway access from the Power and Hawes exits.
“My vision for the 202 corridor is to bring non-residential development that creates job centers for our citizens and residents of our regional partners,” District 6 Councilmember Kevin Thompson said. “The Landing at PMG is another significant addition to District 6 and the Gateway area and it checks all the boxes the City is looking for.”
The new industrial development sits just north of the Phoenix-Mesa Gateway Airport and within one of Mesa’s newly announced, federally-designated opportunity zones. Opportunity zones allow investors to defer and potentially reduce taxes on capital gains, so long as the gain is reinvested in a qualified opportunity fund that invests in a qualified opportunity zone.
“The Landing at PMG is the perfect fit for Mesa’s Gateway Area considering the tremendous growth in the area and the significant demand for quality Class A industrial space,” Mesa Economic Development Director Bill Jabjiniak said. “And now, companies locating at The Landing have the unique advantage of deferring and reducing capital gains tax by locating in an opportunity zone.”
“Marwest Enterprises, LLC is excited to develop institutional quality industrial product in Mesa, Arizona. As a long-term owner in Mesa, we have witnessed the pro-growth / pro-job mentality of the city and look forward to capitalizing on that momentum,” David Martens, Principal of Marwest Enterprises, LLC, said. “The Landing, designed for optimal flexibility and functionality, will provide Mesa with the space necessary to attract quality tenants to the city. We look forward to the continued partnership with Mesa.”
“We are thrilled to bring to fruition our long-standing vision to provide companies in Southeast Mesa an exceptional place to do business,” The Landing Project Manager, Jeff Arnold of Cedar Point Enterprises, LLC, said.
To discuss leasing or investment opportunities, contact Alex Wentis of CBRE at 602-735-5591.
For more information regarding Mesa’s Opportunity Zones, visit www.SelectMesa.com/OpportunityZones.