Wetta Ventures Plans $60M Manufacturing Facility

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In a counterpoint to the industrial space sector’s recent focus on distribution space, Wetta Ventures, of Phoenix, will soon break ground on a $60 million Class A speculative industrial project in Mesa, Ariz. The development is intended for heavy manufacturing use, the Phoenix Business Journal reported.

As of the fourth quarter, the 450,000-square-foot Gateway Commerce Center II will be going up at the southwest corner of Pecos and Sossaman roads, near the Phoenix-Mesa Gateway Airport

Wetta reportedly had acquired the 28-acre site for nearly $7 million; Ken McQueen and Chris McClurg of Lee & Associates represented the developer in that purchase.

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The development will feature 40-foot clear height and is intended for just one or two tenants. It’s zoned for general industrial, and rail access along the southwest side of the site is provided by Union Pacific.

Bill Jabjiniak, Mesa’s director of economic development, was quoted as saying that the building would be very suitable for manufacturers of electric vehicles, batteries, medical devices, pharmaceuticals or semiconductors.

McQueen reportedly told the PBJ that two companies have already contacted Lee & Associates about leasing space in Gateway Commerce Center II, and that he expects the development to be at least partly preleased before its scheduled completion in the third or fourth quarter of 2023.

Wetta did not respond to Commercial Property Executive’s request for additional information.

Staying warm

Wetta has completed several projects in Mesa, including a hangar at Gateway Airport and its first Gateway Commerce Center project, which recently sold.

Metro Phoenix has seen the number of manufacturing jobs increase by 1.3 percent from February 2020 to November 2021, according to a fourth-quarter report from Avison Young. Further, the metro hit a record high for total employment last November, and currently has its lowest unemployment since 2007.

Not quite a year ago, APEL Extrusions, a Calgary-based company that makes aluminum extrusions, bought a 22.6-acre site in the Phoenix West submarket, with plans to use it as a manufacturing facility and headquarters. Becknell Industrial, which sold the site, will be the developer of the 323,780-square-foot project.