Trammell Crow Company Announces Park Aldea Phase 2 in Phoenix
Next Phase of the West Valley Logistics Park Includes 570,000 Square Feet Across Four Buildings
August 23, 2021
Trammell Crow Company (TCC), one of the nation’s largest commercial real estate developers, has announced plans for the second phase of development at Park Aldea in Phoenix’s growing West Valley submarket. Phase 2 will include 570,600 square feet of Class A in-fill logistics space across four single-story buildings available for lease or sale to users. Construction is slated to begin in Q4 2021 and will be complete during Q3 2022.
Buildings A, B, and C within Phase 2 will be rear-loaded facilities that span 138,200 square feet, 90,300 square feet, and 90,500 square feet, respectively. These facilities can accommodate users ranging in size from 25,000 square feet to full-building users. Building D is a cross-dock facility spanning 251,600 square feet and is designed to accommodate up to four users. Features of each facility include private secured concrete truck courts, 32’ to 36’ clear heights, ample power, ESFR fire sprinklers, 180’ to 310’ building depths, and R-38 insulation.
“Phase 2 of Park Aldea is uniquely positioned to build off of the success seen at Phase I. Buildings A, B and C at Phase 2 were designed based on the strong leasing activity that we saw during the lease up of Phase 1, which offered similarly sized facilities. We expect that demand for Class-A logistics space will continue to increase over the coming years, especially due to the lack of available land,” said Ryan Norris, Vice President at Trammell Crow Company Phoenix. “Building D will benefit in that it is the only logistics offering above 180,000 square feet that is situated along the West Loop 101 freeway. This will attract larger users that need to service the West, Central and Northern portions of the West Valley, an area known as one of the most desirable general industrial and manufacturing zones in metro Phoenix due to its strong labor pool and growing population.”
Park Aldea Phase 2, like its sister project at Phase 1, will benefit from immediate access to a full diamond interchange along the Loop 101 and ease of access to the I-10. The site is 20 minutes from Downtown Phoenix and Sky Harbor International Airport, and within a five-minute drive to State Farm Stadium, Camelback Ranch, and the Westgate Entertainment District.
Leasing for Phase 2 is being handled by the CBRE team of Cooper Fratt and Tanner Ferrandi.
TCC completed the first phase of Park Aldea in 2020. The development includes 356,000 square feet across four buildings. Current occupants at Phase 1 include CAVCO Industries, Green Worldwide Shipping, Arnold Machinery Company, PinderNation Electric, and Summit Electric Supply Co.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.