SCOTTSDALE, ARIZ. (August 17, 2023) – Filling the void of +/-200,000 SF industrial properties being developed in Metro Phoenix, a joint partnership is breaking ground in September on a 216,688 SF spec industrial building on 13.26 acres in El Mirage, Arizona.
Scottsdale-based Silver Creek Development and Atlanta-based Stonemont Financial Group plan to deliver the asset, El Mirage Commerce Center, in 3Q 2024, at 9755 N. El Mirage Road.
ARCO Mountain West is the general contractor; GMA Architects is the architect of record. John Werstler, SIOR; Cooper Fratt, SIOR; and Tanner Ferrandi with CBRE are the leasing brokers.
“There is a high demand for this space among the many vendors/suppliers that will be relocating to service the TSMC (chip-making) plant anticipated to commence production in 2025,” said Silver Creek Development industrial development and construction program Director Bob Micera. “There are few competitive sites of +/-200,000 SF buildings currently being developed in this market. Most of what is being built is bulk.”
Plans call for one building, divisible by up to four tenants of +/- 54,080 SF. The project will feature a 32-foot clear height; the ability for tenants to secure their truck court; 162 auto parking spots; future EV auto charging stations; 44 trailer parking spots; LED lighting; 48 dock doors; and two drive-in doors.
El Mirage Commerce Center will be within proximity to the Valley’s major highways, including Northern Parkway, the Loop 303, and the Loop 101 freeways. Along with the transportation infrastructure, the El Mirage/Surprise submarket offers a strong labor pool and amenities to attract prospective tenants.
“We look forward to delivering El Mirage Commerce Center with above-standard office design and state-of-the-art features to provide the best tenant experience possible,” said Josh Wheeler, Senior Vice President at Stonemont Financial Group. “This continues Stonemont’s track record of filling gaps within markets that are in need of quality, Class A product to meet user demand. We are thankful to Silver Creek for its invaluable partnership in bringing this project to fruition and look forward to announcing more milestones down the road.”
About Silver Creek Development
Silver Creek Development is a Phoenix-based private real estate development and investment group focused on ground up development, as well as stabilized industrial, multifamily and office assets. The firm values the opportunity to partner with local contractors, consultants, community leaders and residents in each market they invest which allows for a greater impact in overall development. It currently has five industrial development projects representing more than 827,000 SF in various stages of development in Glendale, Surprise, Avondale, Mesa, and El Mirage with plans to break ground on an additional 150,000 SF speculative industrial asset in the West Valley. Its principals have amassed more than 100 years of industry experience, developing more than 10 MSF of projects in top-tier markets across the U.S. and Europe. The firm, which manages a portfolio of more than $2.1 billion in assets under ownership/development, operates out of Arizona, California and New York. To learn more, visit silvercreekdevco.com.
About Stonemont Financial Group
Stonemont Financial Group specializes in investing across a broad spectrum of real estate asset classes and geographies to deliver attractive risk-adjusted returns. Stonemont offers diversified and differentiated real estate investment strategies and vehicles to institutions, family offices, trusts and high net-worth individuals. The firm’s founders and managing principals have a combined track record of more than 60 years’ experience and $20 billion invested. For more information visit stonemontfinancial.com.