MESA, AZ-With a five-year prelease in hand, the Carter Cos. has penciled a July 7 groundbreaking for a $7.25-million office/warehouse project in the East Valley. The construction catalyst is a 31,712-sf deal for the 73,385-sf Falcon Crest Business Center.

Jump-starting construction on the 4030 E. Quenton Dr. project is Ergonomics Solutions Inc., which will be expanding when it relocates to the finished product in first quarter 2009. Garrett Schoenberger, senior associate for Grubb & Ellis/BRE Commercial LLC in Phoenix, tells that the building is the first new construction in the Falcon Field submarket in nearly 18 months, with its delivery timed to coincide with the completion of the last leg of Loop 202.

Schoenberger says the submarket is an emerging industrial corridor that’s destined to transition from its traditional smaller buildings to larger ones after the loop is completed. He says Canton, OH-based Timken Corp.’s 85,000-sf buildings at Falcon Field not only are the newest, but the largest in the corridor. On average, the submarket’s buildings are 10,000 sf to 20,000 sf and often owner-occupied. “You’re going to see more distribution buildings in that submarket,” he says, “and this is kind of the start of that.”

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