Trammell Crow, Clarion Break Ground on Phase Three of Industrial Project in Arizona
- Dec 10, 2014
Trammell Crow Co. and joint venture partner Clarion Partners have started construction on the third phase of Coldwater Depot Logistics Center, a 187,000-square-foot, Class A speculative industrial building in Avondale, Ariz.
This is the final phase of the joint venture’s 66-acre master-planned industrial park.
“For the last few years, new developments in Southwest Phoenix have focused on the big–box user—those tenants requiring spaces of 250,000 square feet and greater,” Cathy Thuringer, principal with Trammell Crow Co.’s business unit, told Commercial Property Executive. “The overall Coldwater Depot Logistics Center master-plan provided for a mix of building sizes to target a wider variety of users. This specific third phase was designed with the smaller industrial user in mind—those with requirements between 50,000 square feet and 200,000 square feet that have traditionally been the ‘bread and butter’ of the Phoenix industrial market, and whose options for new, Class A space have been very limited in Southwest Phoenix.”
In fact, Coldwater Depot Phase Three will be the first distribution building developed in Southwest Phoenix in seven years that is specifically designed for 100,000-150,000-square-foot warehousing requirements.
“The third phase consists of a single cross-dock distribution building of 187,000 square feet with 30-foot clear heights, 52’x60’ column spacing, ample truck maneuverability and trailer parking, the ability to secure truck courts and visibility from Van Buren Street, a major East/West arterial roadway,” Thuringer said. “Given its Class A design and features, Coldwater Depot’s phase three affords the smaller user the opportunity it seeks to lease space that is both modern and efficient.”
According to Thuringer, the facility has access to local, regional and national markets via an integrated network of interstate and intrastate freeways as Coldwater Depot Phase Three sits on 11.7 acres along Interstate 10 at 127th Avenue, in the heart of the Southwest Phoenix industrial market. The site is minutes from Loop 101, Loop 303 and I-17, with close proximity to Sky Harbor International Airport and downtown Phoenix.
Local amenities include Avondale City Center, Gateway Pavilions, Shops at Alameda Crossing, Gateway Crossing, Hilton Garden Inn, Homewood Suites, The Estrella Falls Regional Mall and Wigwam Golf Resort & Spa.
Construction is expected to be completed in the second quarter of 2015.
Rusty Kennedy, Dan Calihan and Pat Feeney with CBRE’s Phoenix office have been appointed the leasing agents for the building. Butler Design Group is the architect and Renaissance Cos. will serve as the general contractor.