New Joint Venture Buys two Eastmark Parcels

IndiCap has joined forces with AECOM-Canyon partners to buy two parcels of industrial zoned land in the Mesa Gateway submarket. The parcels, which total 113 acres are in the Eastmark master planned community. The parcels acquisition price was $48 million.

The real estate at Eastmark will contain 10 buildings totaling over 1.6 million square feet of industrial space. They will range from 83,200 square feet to 426,000 square feet. Future phases may include build-to-suit. IndiCap’s Jason Kuckler says the location of the project was crucial, “This location was strategically selected to allow for easy access through multiple freeway entrances…we see Phoenix as an industrial juggernaut.” The project is near the interchange of Santan Loop 202 and Elliot Road, as well as the State Route 24 extension.

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