Graycor Completes 1st Phase of TEN Distribution Center in Phoenix
The development is Foreign Trade Zone capable, allowing for reductions of up to 72 percent on real estate property and equipment taxes.
Graycor Construction Co. has finished construction on the first phase of TEN Distribution Center, a speculative industrial project in Phoenix’s West Valley. The 1.1 million-square-foot development is part of Irwin G. Pasternack AIA + Associates PC’s planned $300 million industrial park.
Graycor broke ground at TEN Distribution Center in January last year. Upon full build-out, the park will total 3.6 million square feet and comprise six Class A industrial buildings, ranging between 175,000 and 1.1 million square feet, along with retail pad sites averaging 1.2 acres.
The development is located at 8181 W. Roosevelt St. TEN Distribution Center has plentiful frontage along the Papago Freeway Interstate 10 and is within minutes of Loop 101 and the planned, $22 billion extension of Loop 202, which is scheduled to open in September 2019.
TEN Phase I is Foreign Trade Zone capable, allowing for reductions of up to 72 percent on real estate property and equipment taxes. The distribution center features 40-foot clear heights, cross-dock framework and high-volume trailer capabilities.
“The advantages that TEN Phase I offers have been well received, particularly among those in the growth markets of e-commerce, food and beverage, transportation and logistics. Demand from these types of users has been on the rise for four years in metro Phoenix and we expect that trend to continue,” said JLL Managing Director Anthony Lydon, in a prepared statement.
Lydon is the exclusive leasing broker for TEN Distribution Center, along with Managing Director Marc Hertzberg and Vice President Riley Gilbert.
Video courtesy of Graycor Construction Co.
