Opus Group JV Breaks Ground on Phoenix Project

Rendering of Deer Valley 30. Image courtesy of The Opus Group

The Opus Group, in a joint venture with Principal Real Estate Investors, has broken ground on Deer Valley 30, a three-building, 356,000-square-foot speculative industrial project in Phoenix. Opus serves as developer, design-builder, architect and structural engineer. Completion is expected in October 2023.

The industrial campus will take shape on a 30-acre site located less than 10 miles from Taiwan Semiconductor Manufacturing Co.’s chip fabrication plant. The $12 billion project will include six factories, with the first manufacturing facility to become operational in 2024.

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At full build-out, Deer Valley 30 will comprise two warehouses of 106,000 and 184,000 square feet, respectively, with 32-foot clear heights. The third building, at 66,000 square feet, will have a 28-foot clear height. The property will feature a total of 79 dock doors and up to 432 parking stalls. Managing Director Josh Wyss and Senior Director John Pompay of Cushman & Wakefield oversee all leasing activity at the site.

Opus Group and Principal Real Estate have previously partnered this year for the development of a 3.9 million-square-foot industrial park in Aurora, Colo. The first phase of the project is slated for completion in late 2023.

Phoenix’s growing industrial market

The project will come online at 1300 W. Alameda Road, 21 miles from downtown Phoenix, with access to Interstate 17. The location is roughly 3 miles from another industrial development taking shape near Deer Valley Airport, the 3 million-square-foot Mack Innovation Park Deer Valley.

A CommercialEdge report shows that, as of October, Phoenix boasted the largest industrial pipeline in relation to existing stock in the U.S. The metro had 46.6 million square feet under construction, representing 15.6 percent of stock.