Phoenix Developer Buys Tempe Infill Site for Next Industrial Park

Article originally posted on Phoenix Business Journal on August 22, 2024

A little over a month after acquiring an infill site in Tempe, Evergreen Devco Inc. is ready to start a wholesale conversion.

The existing 157,000-square-foot building will soon be demolished. Once the site is cleared, Evergreen will build a pair of spec industrial buildings totaling 171,025 square feet as well as 65,578 square feet of outdoor storage space on the southeast corner of 48th Street and Alameda Drive. The industrial park will be known as 48th @ Alameda.

“Oftentimes you see industrial developers will put up buildings without really carefully examining where the bulk of the demand is,” said Brian Dietz, Evergreen’s vice president of industrial development. “We believe it to be small to medium-sized tenants that may need some outdoor storage component to store equipment, trailers or raw materials. And oftentimes it’s tenants that want to be in this kind of location that need more grade loading than dock-high loading. Most of the new industrial buildings you see are dock high.”

The process to demolish the building is underway, Dietz said. He expects to start construction of the industrial campus in late September or early October. It will be about a 12-month buildout.

Read the complete article here: https://www.bizjournals.com/phoenix/news/2024/08/21/evergreen-devco-tempe-new-industrial-park.html