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PHOENIX-Shea Commercial will break ground in early 2006 on Mohawk Commerce Center, a 67,405-sf industrial condominium complex. All-in construction costs will be approximately $8 million, with the condos selling for an average of $135 per sf.

Located along Mohawk Lane and near Loop 101, the development’s scheduled completion date will be July 2006. Archicon LC and Caviness Construction Co., both in Phoenix, are the architect and general contractor, respectively, for the project.

According to Bob Deininger, a principal with the Scottsdale-based Shea, Mohawk Commerce Center is already 30% sold with five deals are in escrow. “By the time we break ground, we’ll be 90% sold,” he tells GlobeSt.com.

The complex will have condos ranging from 2,700 sf and 5,000 sf, on average. “They can go up to more than 26,000 sf if the need is there,” says Deininger, who with Shea’s Ron Akridge is handling presales.

Deininger adds a second phase is possible given the demand for industrial condo space. “We do have additional lots there for sale,” he says, “and that could give us an additional 40,000 sf there.”

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