Phoenix Firm Secures Financing, Starts Construction on New Pinal County Industrial Project

Article originally posted on Phoenix Business Journal on June 13, 2023

Phoenix-based Kentwood Ventures is building a new speculative industrial building in Pinal County, an area that has been attracting more industrial developers in recent months.

The new facility, called KV Casa Grande, will total 314,453 square feet in a single building featuring 32-foot clear heights, a 175-foot concrete truck court, 28 dock-high doors, 14 grade-level doors and 339 parking spaces.

Located across 20 acres near Thornton Road and Ash Avenue just north of Lucid Group Inc.’s electric vehicle manufacturing plant, the building broke ground in April and is expected to be completed in the next year.

Kentwood Ventures recently announced that it had secured nearly $40 million in capital for the development. This includes $15 million in joint venture equity and $23 million in financing through Blue Vista Capital Management and CrossFirst Bank.

Jason Carlos and Jarrod Howard of JLL’s capital markets debt team represented Kentwood in the capital arrangement. Anthony Lydon, John Lydon, Hagen Hyatt and Kelly Royle of JLL are the leasing brokers for the facility.

Kentwood Ventures did not immediately respond to a request for information about the general contractor and architect. The company has developed other multi-tenant, mid-bay industrial facilities in other parts of the Phoenix metro including Glendale and Buckeye.

Find the Full Article Here: bizjournals.com/…/kv-casa-grande-industrial-pinal-county-arizona