Thompson Thrift Completes 1st Phase of 1 MSF Phoenix Project

Thompson Thrift continued its ongoing focus on Arizona markets with the completion of the first phase of Germann Commerce Center, an industrial development taking shape in the southeast Phoenix suburb of Queen Creek.

The initial phase of Germann Commerce Center comprises about 400,000 square feet of speculative light industrial space in five standalone buildings. The site covers approximately 26 acres at the southwest corner of Germann and Meridian Roads.

Phase I broke ground in January 2023. The buildings are front-park/rear-load facilities, with clear heights from 28 to 32 feet and frontage on East Germann Road. Thompson Thrift said the build-out of the speculative office space in phase I will be completed by the end of the year.

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Thompson Thrift will add approximately 622,000 square feet of industrial space during the project’s second phase, which is being marketed for build-to-suit and for-sale options. Upon completion, the full development will offer 1 million square feet of warehouse, distribution, light assembly and manufacturing space across 12 buildings on approximately 70 acres.

The company is also progressing on the first phase of Elliot Tech Center, a mixed-use project in Mesa’s Elliot Road Technology Corridor. More than 45 percent of the property is leased and it continues to see strong interest.

Phoenix’s active development market

A large data center at the Elliot Road Technology Corridor campus received funding earlier this year. EdgeCore Digital Infrastructure gained $1.9 billion in green financing to further develop its Mesa campus.

LG Energy Solution is constructing a $5.5 billion battery manufacturing complex that is expected to create 4,000 new jobs, making the company Queen Creek’s largest employer. The property will be near Germann Commerce Center and will offer 1.7 million square feet, with completion planned for early 2026.