Greystar Delivers 1 Million SF of Industrial Space at Gateway Grand

Article originally posted on AZ Big Media on April 22, 2024

Greystar, a global leader in the investment, development, and management of institutional quality commercial real estate, today announced the completion of its first 1,074,858 square feet at Gateway Grand, a Class A industrial development in Mesa, Arizona, and the company’s first industrial project to deliver in the state.

At completion, Gateway Grand will total 2.1 million square feet in two phases. It is part of Greystar’s 1.5 million square feet of Class A industrial space completed or under development in metro Phoenix.

Located at 7852 and 8016 E. Pecos Rd., Gateway Grand Phase I sits at the northeast corner of Sossaman and Pecos roads, in the City of Mesa’s Pecos Advanced Manufacturing Zone. It is minutes from Phoenix-Mesa Gateway Airport, the Loop 202 and State Route 24.

With speculative office space in place and initial HVAC on site, Gateway Grand Phase I offers two 537,429 square-foot buildings that are move-in ready for a range of users. This includes significant demand from aerospace and advanced manufacturing companies.

“Growth in the Gateway submarket is rapid, and Gateway Grand was developed with features that ensure companies can occupy its space immediately,” said Billy Cundiff, Greystar Managing Director. “Each building has up to 3,200 square feet of move-in-ready office space with enough speculative HVAC and lighting to furnish one building. City approval allows a tenant to occupy 150,000 square feet in either building immediately and move into the remainder of the space as they secure permits.”

Speculative office space in the Phase I buildings includes conference rooms, break rooms, open and private offices, and restrooms. Features of the industrial space includes 40’ clear height, 60’ x 60’ column spacing, 70’ speed bay, ESFR sprinklers and 7” slabs. Each building has 98 dock-high and 4 grade-level doors, supports 518 auto parking spaces and is equipped with 3600 amps of power that is easily expandable via additional SES electrical gear on order.

Jackie Orcutt, Kevin Cosca, Pete Wentis and Jonathan Teeter of CBRE are the project’s exclusive leasing brokers.

“This is a dynamic economic environment with some of the region’s most desirable workforce demographics and tremendous access to air, rail and road networks,” said Orcutt. “Greystar has done an exceptional job of removing the barriers that might impede a company from quickly occupying space at Gateway Grand and joining the area’s impressive mix of companies.”

“We are an institutional real estate developer and long-term holder who strives to build with the tenant in mind,” said Wil Hogue, Greystar Senior Associate. “With that mindset, we offer a very local presence and work toward principal-to-principal relationships that give us insight into what makes our tenants happy for the long run. That insight is reflected in this project.”

Phase I is available for immediate occupancy. Phase II is available for build-to-suit.

Phase II totals 1,095,961 in a single building and is rail capable, with adjacency to Union Pacific’s planned Pecos Industrial Rail and Train Extension. Building features mirror those of Phase I with an expanded 192 dock doors, 7” unreinforced slab over 4” ABC, 843 auto parking spaces and 2,000 square feet of speculative office space.

Gateway Grand is Foreign Trade Zone capable, with the potential to reduce property taxes by more than 72% in perpetuity for qualified users.

The development is proximate to expansive dining, retail and hotels. The submarket is also home to major educational institutions including Arizona State University, Chandler-Gilbert Community College and the East Valley Institute of Technology.

Derek Builders is the project’s general contractor. Deutsch Architecture Group is the architect.