Jump-starting construction on the 4030 E. Quenton Dr. project isErgonomics Solutions Inc., which will be expanding when itrelocates to the finished product in first quarter 2009. GarrettSchoenberger, senior associate for Grubb & Ellis/BRE CommercialLLC in Phoenix, tells GlobeSt.com that the building is the firstnew construction in the Falcon Field submarket in nearly 18 months,with its delivery timed to coincide with the completion of the lastleg of Loop 202.

Schoenberger says the submarket is an emerging industrialcorridor that's destined to transition from its traditional smallerbuildings to larger ones after the loop is completed. He saysCanton, OH-based Timken Corp.'s 85,000-sf buildings at Falcon Fieldnot only are the newest, but the largest in the corridor. Onaverage, the submarket's buildings are 10,000 sf to 20,000 sf andoften owner-occupied. "You're going to see more distributionbuildings in that submarket," he says, "and this is kind of thestart of that."

Phoenix-based Carter bought the 5.75-acre development tract in2005, staking its first claim in the East Valley on the north sideof Commons Industrial Park. "They were going to start it as spec,"Schoenberger says. "This just helped." He says the deal's beenworking through the pipeline nearly six months.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.