Construction Starts on Two-Building Logistics Park As Phoenix Industrial Market Stays Hot

Mohr Capital and its financial partner Rosewood Property Co., both based in Dallas, expect to the finish the 705,000-square-foot project called West Summit Logistics Park on West Sweetwater Avenue by midyear 2024, according to a statement from the developers.

The project across 46 acres includes a 453,960-square-foot cross-dock industrial building with 36-foot-clear heights, dual truck courts, 106 dock doors, 144 tractor-trailer spaces and 369 car parking spaces, according to the statement.

The second building is designed to be 250,512 square feet with 32-foot-clear heights, a truck court, 58 dock doors, 81 tractor-trailer spaces and 338 auto spaces.

Greater Phoenix is projected to add the most new warehouse space that the region has seen in decades, with about 44 million sqaure feet scheduled to be finished this year, according to CoStar analytics report. Developers are building most of the projects on speculation without signed tenants, CoStar data shows.

“The tenant demand Mohr Capital is seeing in Phoenix right now is among the strongest in the western United States,” Mohr Capital Chairman Bob Mohr said in the statement. “We expect this project to be fully leased prior to completion.”

The nearly 2 million square feet of industrial space under construction in Surprise, located about 23 miles northwest of Phoenix, will increase the submarket’s industrial base by nearly 30% when the projects are finished, CoStar data shows.