[ad_1]
US Capital Development, based in St. Louis, recently launched its first development in Arizona.
Falcon Park 303 Phase I will be a 599,468 square foot speculative industrial product located along the Loop 303 corridor in Glendale.
US Capital Development Managing Partner and CEO Scott Sachtleben noted at the groundbreaking ceremony that the company has grown rapidly over the past four years, quadrupling the number of employees and developing nearly $ 2 billion in products.
“Over the next 12 months, we’ll have another billion dollars of vertical development in the queue,†Sachtleben said. “This is our first entry into the Phoenix Valley, and we’re excited about the potential we see here at Glendale. We can’t wait to get started.
“I would like to thank the US Capital Development team for their investment and confidence in our partnership,†added Glendale Mayor Jerry Weiers. “We have grown at breakneck speed, and it has everything to do with our partners and the trust they have in the City of Glendale. This is just one building among many, so we haven’t finished after today. In fact, we are just getting started.
Falcon Park 303 Phase I sits on 36.75 acres along Camelback Road at 152nd Avenue, just over a mile east of Loop 303. The building will have a clear height of 40 feet, with 92 loading doors at platform height and four in-car loading doors. . The 599,468 square foot space is divisible by half. The building is expected to be completed in August.
The team working alongside US Capital Development includes general contractor Willmeng Construction, architect Gray Design Group and civil engineering firm Hilgat Wilson. Leasing on the development is managed by the Cushman & Wakefield team of Andy Markham, Mike Haenel and Phil Haenel.
“Willmeng is grateful to US Capital Development for the opportunity to partner with them on this project,†said Thomas Jarvis, vice president and partner of Willmeng Construction.
“There are many opportunities across the valley that we are working with them on, and we are ready to help Scott and his team establish a successful presence here in Arizona. “
US Capital Development is also working on plans for Falcon Park 303 Phase II, which will be a 325,000 square foot speculative industrial building. With Falcon Park 303, Sachtleben said his company was in various stages of planning for three more industrial developments across the valley. He noted that by the first quarter of 2022, US Capital Development will have 3 million square feet of industrial products in the Phoenix market.
Nelson Grumney, who leads development opportunities for US Capital in the Phoenix market, added, “The pandemic has fueled the boom in e-commerce, increased consumer demand, and the relocation of manufacturing and marketing. warehousing has introduced a huge need for additional industrial products nationwide. With the valley’s large and growing population, the business-friendly regulatory environment, and proximity to several markets, we believe we are well positioned in the Southwest Valley. “
[ad_2]
