US-based private equity real estate investment, development and management company Dermody Properties has started construction on its planned industrial park, LogistiCenter at Copperwing.
The logistics park is situated around 3.5 miles away from the Loop 101 and Loop 303 freeways of the Northern Parkway Expressway.
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Located at the Northern Parkway Expressway and Dysart Road in El Mirage, Arizona, the project involves a 961-acre site featuring around ten million square feet of modern distribution space with individual buildings.
The first two buildings will be constructed under phase one, covering 566,602ft² of Class A logistics space.
It offers convenient access to all of the southwestern US, which is expected to attract several large-sized distribution customers and firms with manufacturing operations.
The property was acquired by Dermody Properties in late 2021 from the John F Long Family Trust, which has also been involved in this project.
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By GlobalDataDermody Properties south-west region partner Pat Gallagher said: “With a project of this scale, Dermody Properties intends to create a best-in-class industrial park through sustainable design and construction to meet the supply chain requirements of national, regional and local companies.
“The Phoenix metropolitan area is one of the fastest-growing regions in the country and is experiencing unprecedented industrial growth, having reported more than 26 million square feet of annual net absorption in 2022.”
