SIHI, Graycor Kick Off 4 MSF Phoenix Industrial Park

Rendering of Camelback 303. Image courtesy of Sunbelt Investment Holdings Inc.

Sunbelt Investment Holdings Inc., in partnership with Graycor Construction Co., has broken ground on Camelback 303, a 4 million-square-foot industrial park in Goodyear, Ariz. Construction began on the project’s first phase, a 516,320-square-foot speculative industrial building. Delivery is expected in the first quarter of 2024.

At full build-out, Camelback 303 will feature up to 16 buildings ranging from 32,400 to 1.3 million square feet. The project is part of the larger 1600-acre PV|303 master planned business park, which is set to include up to 20 million square feet of industrial, office and retail space.

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The first building to be completed will be a cross-dock configuration. Its features will include 40-foot clear heights, clerestory windows, storefronts at three building corners, 89 dock-high and four drive-in doors, 190-foot concrete truck courts, an ESFR sprinkler system, 103 trailer stalls and 421 parking spaces.

Designed by Butler Design Group, the facility will be available for single-use or to accommodate up to three tenants. Vice Chairmen Andy Markham and Mike Haenel, alongside Executive Managing Director Phil Haenel with Cushman & Wakefield are in charge of leasing operations.

The development is taking shape at the southeast corner of Camelback Road and Pebble Creek Parkway within the Loop 303 Corridor, 24 miles from downtown Phoenix and with access to Interstate 10. Other industrial users in the area include UPS, XPO Logistics, Dick’s Sporting Goods, ALDI and Mercedes-Benz.

Phoenix still leading the U.S. industrial market

Despite a slowdown in industrial development due to rising interest rates, Phoenix is still outpacing the nation, a CommercialEdge report shows. As of May, the metro had some 58.4 million square feet under construction, representing 16.6 percent of stock.

Some of the largest projects underway in Phoenix include Lincoln Property Co.’s Goodyear AirPark, a 7 million-square-foot industrial campus developed in partnership with Harvard Investments. In Mesa, Ariz., SkyPlus Developments started work on SkyBridge Arizona, a 3.8 million-square-foot project, adjacent to Phoenix-Mesa Gateway Airport. Meanwhile, in El Mirage, Ariz., Dermody Properties broke ground on its 961-acre campus, LogistiCenter at Copperwing, set to feature 10 million square feet of distribution space at full build-out.