(Read more on the industrial market.)

AVONDALE, AZ-Irgens Development Partners LLC will develop up to 152,460 sf of flex and industrial product on a just-bought 10 acres. The Milwaukee-based developer has spent $3.4 million for the development site.

Steve McKendry, executive vice president and principal for Phoenix-based DAUM Commercial, says Irgens Development Partners ended up with the land near Eliseo Felix Jr. Way and East Van Buren Street because it offered the highest price and the ability to close. “Irgens is becoming a pretty well-known developer in the Phoenix area and we were able to show the sellers they were a proven entity,” he adds.

McKendry partnered with DAUM executive vice president and principal Kirk Jenkins to represent the Phoenix seller, M and C Paint LLC. Rick Lee and Stein Koss, principals with Lee & Associates in Phoenix, represented Irgens Development. Details about the construction schedule aren’t available.

McKendry tells GlobeSt.com that the land attracted many investors because it was a fully finished site plus the industrial land market is particularly hot in the far west submarket. “This site is right off Dysart Road, which leads into I-10,” he explains. “It’s in the West Phoenix area so access to California is easier and faster.”

In October, Irgens Development launched construction on another project in the far west submarket–the 115,532-sf Tolleson Commerce Center, a five-building flex development on 9.4 acres at 83rd Avenue and Buckeye Road. The under-construction project, slated to deliver in second quarter 2008, is about five miles east of the developer’s latest land acquisition.

McKendry points out that more developers will likely move into the far west submarket, particularly as the infrastructure improves. “There’s been a lot of growth in that area over the past three years, partly because of the freeway systems,” he adds.

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