Wharton Industrial has acquired a 101-acre site in Mesa, Arizona, US to develop a 1.5 million ft2 industrial park.
The company has also planned to make more than $200m investment to construct the new Class A industrial park, which will be named as ‘The Hub@202’.
The project will include 11 buildings that will range from 65,000ft2 to 270,000ft2 and will also feature 1,429 car parking spaces; 73 trailer parking spaces; and 60-foot speed bays.
US-based private investment company MSD Capital has provided funding for the project.
Construction work on the new industrial park is scheduled to commence in the second quarter of this year.
Wharton Industrial chairman Peter Lewis said: “Wharton is a strong believer in the growth of the industrial market in the Intermountain West region as more companies and individuals relocate for a more hospitable business climate and better quality of life.
“Markets like Mesa are becoming part of the ‘digital desert’ where forward-thinking businesses such as electric vehicle makers, social media companies, aerospace, and chip manufacturers and more are flocking.
“The strategy to invest in this region is emblematic of our 35-year corporate philosophy of focusing on emerging markets poised for significant growth.
The firm’s recent development projects include a two-building, 600,000ft2 industrial development in Greenville, South Carolina, a 510,000ft2 industrial facility in Lakeland, Florida; a 988,000ft2 warehouse in Atlanta; and a 617,000ft2 warehouse in Ocala, Florida.
Last month, McShane Construction Company secured a contract from mixed-use developer Milhaus to build a new luxury multi-family development in Tempe, Arizona.
Wharton Industrial acquires site to develop new industrial park in Arizona. Credit: Peter H from Pixabay.