Today, Abington Emerson announced it will construct a new Class A industrial development consisting of three buildings for a total of 97,121 square feet on 7.25 acres at the northwest corner of Ray Road and 71st Street next to the Phoenix-Mesa Gateway Airport. The $15.5 million project has freeway access to Loop 202 and is expected to be completed by the first quarter of 2022.
"Development in the Mesa Gateway area is catalyzed by investments like that of Abington Emerson," Mesa Mayor John Giles said. "Their Class A, built-to-suit buildings signify opportunity for businesses looking to locate in the area, and we look forward to seeing their completion in the coming months."
The development is zoned light industrial with one building at 20,228 square feet, another at 30,180 square feet, and the third at 46,713 square feet. An additional 2.2 acres is available and marketed for a build-to-suit industrial opportunity. Each building will feature a fully secured yard, 24-foot ceiling heights, and truckwell and grade level loading.
The new industrial development sits within one of Mesa's federally designated opportunity zones. Opportunity zones allow investors to defer and potentially reduce taxes on capital gains, so long as the gain is reinvested in a qualified opportunity fund that invests in a qualified opportunity zone.
"This development represents Abington Emerson's sixth project in the area and we are excited to grow our relationship with Mesa, which offers a growing skilled workforce, business-friendly environment and excellent infrastructure," said Brent Howard, who is responsible for acquisitions, development, and management of real estate investments for Abington Emerson in the Southwestern Region. "We continue to see significant economic growth and sustained interest for the light industrial sector and are very pleased about bringing this high-quality project to market."
"Not only will Abington Emerson be a welcome addition to the already thriving District 6, but the fact that the developer is using opportunity zone funding shows what a great recruiting tool it can be for Mesa to attract businesses," District 6 Councilmember Kevin Thompson said. "It is an attractive option for companies, and it provides for great investments in our City."
"This Abington Emerson development is a great addition of quality Class A industrial space to Mesa's Gateway Area and is a tremendous opportunity zone investment," Mesa Economic Development Director Bill Jabjiniak said. "We continue to see strong interest in all of our opportunity zones."
To discuss leasing or investment opportunities, contact Ken McQueen and Chris McClurg at 602-956-7777.
For more information regarding Mesa's Opportunity Zones, visit www.SelectMesa.com/OpportunityZones.
Contact: Kim Lofgreen