Green Worldwide to Lease 87,000+ Square Feet in Phoenix’s Latest Industrial Park
Trammell Crow Company (TCC) and its partner, CBRE U.S. Development Partners 5, a fund sponsored by CBRE Global Investors, announce the completion of Park Aldea, a 356,000-square-foot four-building industrial development in Phoenix, Arizona. Green Worldwide, an international shipping company, signed a lease to occupy the entirety of Building C, which spans 87,296 square feet and is located at 10200 West Montebello Avenue. The company plans to move to the new facility at the end of 2020.
Park Aldea is located on a 27-acre site just west of the intersection of 99th Avenue and Cardinals Way (Bethany Home Road). Three buildings at the development are available for lease and include Building A, which spans 74,164 square feet; Building B, which includes 76,322 square feet; and Building D, which offers 118,241 square feet. Divisibility is available down to 7,280 square feet.
“Park Aldea is the first Class A industrial park to be built in the past 10 years along this 10-mile stretch of Loop 101. It is filling a huge void in this area for flexible, high-quality space that meets the needs of a variety of industrial users,” said Ryan Norris, Vice President at Trammell Crow Company. “Industrial continues to be a strong-performing sector in Phoenix, and we are pleased to deliver another significant project to meet the local demand.”
Features at the buildings within Park Aldea include ESFR fire sprinkles; clear heights ranging from 24 feet up to 32 feet; building depths ranging from 140 feet to 222 feet and truck courts than range in size from 130 feet to 180 feet.
Mitchell Stravitz, Cooper Fratt, and Tanner Ferrandi with CBRE Phoenix serve as the exclusive leasing agents for the project. Ted Liles from Cresa represented Green Worldwide in its lease.
Park Aldea is easily accessible from the Loop 101 Freeway and Cardinals Way, providing access to a deep, diverse labor pool. The site is 20 minutes from Downtown Phoenix and from Sky Harbor International Airport and is a short drive to the Westgate Entertainment District.
About Trammell Crow Company
Trammell Crow Company (TCC), founded in 1948, is one of the nation’s leading developers and investors in commercial real estate. The Company has developed or acquired 2,700 buildings valued at nearly $65 billion and over 590 million square feet. As of September 30, 2020, TCC had $14.8 billion of projects in process and $5.9 billion in its pipeline. It employs more than 550 professionals in the United States and the United Kingdom.
Trammell Crow Company’s teams are dedicated to building value for its clients with professionals in 18 major cities throughout the United States and London. The company serves users of and investors in office, industrial, retail, healthcare, multi-family residential, through its operating subsidiary High Street Residential, and mixed-use projects. For those who occupy real estate, TCC can execute the development or acquisition of facilities tailored to meet the needs of its clients. For investor clients, the company specializes in joint venture speculative development, acquisition/re-development ventures, build-to-suit development and providing incentive-based fee development services.
TCC is an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Los Angeles, and the world’s largest commercial real estate services and investment firm (in terms of 2019 revenue).
