SunCap Breaks Ground on AZ Industrial Asset
Twenty-one percent of the 134,358-square-foot Gilbert Spectrum Building One has been pre-leased to SDHQ Off Road. The property is scheduled for completion by the second quarter of 2019.
By IvyLee Rosario
Gilbert Spectrum Building One, Gilbert, Ariz.
SunCap Property Group has begun construction on Gilbert Spectrum Building One, a speculative industrial building in Gilbert, Ariz. The property is part of its larger 63-acre Gilbert Spectrum development.
Situated at the corner of Elliot and McQueen Roads, the asset will comprise 134,358 square feet, with divisibility to 15,000 square feet. SDHQ Off Road, a supplier of off-road vehicles, has preleased 21 percent of the building. The property is scheduled for completion in the second quarter of 2019 and will feature 32-foot clear height, ESFR sprinklers and dock high loading. Prior to Building One, SunCap constructed a 60,000-square-foot build-to-suit for Orbital/ATK in the Gilbert Spectrum development last year. Once completed, the project will total 800,000 square feet of office, industrial and technology-related space.
“We believe the Gilbert Spectrum location provides a unique opportunity for businesses to benefit from a 360-degree customer and employee base,” said Mike Orr, senior vice president of Development for SunCap Property Group, in a prepared statement.
Commercial Properties’ John Soldo represented SDHQ in the lease deal. LGE Design Group is serving as the architect for Building One. Lee & Associates’ Chris McClurg and Ken McQueen are serving as the listing agents for the Gilbert Spectrum development. The firm has been busy in the Phoenix area. Last month, a Lee & Associates team represented SimonCRE in the $8.7 million sale of Tuft & Needle headquarters in downtown Phoenix.
Rendering courtesy of SunCap Property Group
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