Formation Interests recently celebrated the completion of phase 1 of Formation Park 10 in Goodyear, featuring an unprecedented three-acre park — an amenity that exemplifies FORMATION’s distinctive approach to industrial development.
As its first venture in Arizona, Formation Park 10 sets a new standard for industrial parks in the state. Phase I at Formation Park 10 is located at the corner of Bullard Avenue and Celebrate Life Way. This phase spans 427,000 square feet in two state-of-the-art buildings and offers occupiers 28,000 square feet to 230,000 square feet turn-key occupancy with 2 spec office suites per building. When fully built out, Formation Park 10 will encompass five buildings totaling 688,000 square feet on 44 acres, offering speculative light industrial, commercial, and office space designed to meet the demands of the modern industrial user.
“I could not be more proud of the project that we’ve delivered here, the reputation that we’ve created for Formation,” said FORMATION Director of the Southwest Region Mike Gilbert. “I truly think this is the best-in-class business park in the Phoenix metro area.”
Formation Park 10 is a partnership between Dallas-based FORMATION and Crescent Real Estate with financial backing by Interbank. Willmeng Construction was the general contractor on the project, with Deutsch Architecture Group providing the design. The project was created to be a trendsetting development and serve as a bold introduction of FORMATION’s innovative, community-enhancing industrial spaces to the Arizona market.
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At the center of Formation Park 10 is the first-of-its-kind park, which serves as an amenity for both future tenants and the surrounding community. The park has walking paths, turf areas for outdoor activities, a large ramada and several seating areas spread throughout the space.
“The fact that you put the park in there, I don’t know anybody who’s done that,” remarked Goodyear Mayor Joe Pizzillo. “To the FORMATION team, congratulations for a job well done. Our pro-business climate in Goodyear continues to attract high-quality businesses and developments like this one, and we couldn’t be happier about it.”
“We have a mantra at FORMATION, ‘Why go through life if you can’t make an impact, put a dent in the world and do something different,’” said FORMATION CEO Adam Herrin. “I think we did all of that here in Goodyear, and we’re not done.”
Herrin shared that the next phase of FORMATION 10 is expected to kick off in the next six to 12 months and will feature three smaller buildings, ranging in size from 81,578 square feet to 92,614 square feet. Willmeng will be the general contractor on phase 2 with Deutsch Architecture Group handling the design.
“From the beginning and from this developer’s vision, this project was different. There’s nuance and there’s differences to this park and this vision that we’re standing in that made this project really special to our team at Willmeng,” said Tom Jarvis, Vice President of Pre-Lease Estimating for Willmeng. “For a young development company, FORMATION brings a very fresh perspective to Arizona, and we’re just so thankful to be working alongside them.”
Building on this momentum in the region, FORMATION is also actively developing Formation 17 in Phoenix. This upcoming project is a first of its kind, transit oriented, infill re-development, transforming a 1970s vintage office park into a four-building, 428,000-square-foot business park centrally located along the I-17 Freeway at Peoria Avenue, across from the Metrocenter Mall redevelopment and directly adjacent to the Metrocenter East Metro Light Rail Station.
