The Glendale Star
12
September 30, 2021
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US Capital Development breaks ground in Glendale
BY GLENDALE STAR STAFF St. Louis-based US Capital Development recently broke ground on 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 during the groundbreaking ceremony that the firm has grown rapidly in its last four years, quadrupling in staff size and developing nearly $2 billion of product. “Within the next 12 months, we’ll have another $1 billion of vertical de- (Left) Representatives from US Capital Development, Willmeng Construction, the city of Glendale and Gray Design take part in the velopment in the queue,” Sachtleben groundbreaking ceremony for the new Falcon Park 303 Phase I in Glendale. (Right) Executives with US Capital Development, from left, said. “This is our first entry into the Nelson Grumney, development manager; Jon Petriches, project manager; Matthew Stack, director of development and operations; and Scott Sachtleben, managing partner and chief executive officer, ceremonially shovel some dirt. (Photos courtesy of US Capital DevelopPhoenix valley, and we’re excited about ment) the potential that we see here in Glendale. We’re very anxious to get going.” Design Group and civil engineering Thomas Jarvis, Willmeng Construction II, which will be a 325,000-square-foot “I want to thank the team at US Cap- firm Hilgart Wilson. The leasing on vice president and partner. speculative industrial building. Along ital Development for their investment the development is being handled by “There are multiple opportunities with Falcon Park 303, Sachtleben and their trust in our partnership,” Glen- the Cushman & Wakefield team of across the Valley that we’re working said that his firm is in various stages dale Mayor Jerry Weiers added. “We’ve Andy Markham, Mike Haenel and Phil with them on, and we’re ready to help of planning on at three other industribeen growing at warp speed, and that Haenel. Scott and his team establish a success- al developments across the Valley. He has everything to do with our partners “Willmeng is grateful to US Capital ful presence here in Arizona.” noted that by the first quarter of 2022, and the trust that they place in the city Development for the opportunity to US Capital Development is also work- US Capital Development will have 3 of Glendale. This is just one of several partner with them on this project,” said ing on plans for Falcon Park 303 Phase million square feet of industrial product buildings, so we’re not done coming out of the ground in after today. In fact, we’re the Phoenix market. just getting started.” Nelson Grumney, who Falcon Park 303 Phase heads up development opI sits on 36.75 acres along portunities for US Capital in Camelback Road at 152nd the Phoenix market, added, Avenue, just over a mile east “The pandemic fueled surge of the Loop 303. The buildin e-commerce, increased ing will feature 40-foot clear consumer demand and the heights, with 92 dock-height reshoring of manufacturing loading doors and four and warehousing has introdrive-in loading doors. The duced a huge need for ad599,468-square-foot space is ditional industrial product divisible by half. The buildnationally. With the large, ing is expected to be comgrowing population base pleted by August. in the Valley, pro-business The team working alongregulatory environment and side US Capital Develproximity to multiple maropment includes general kets, we feel that we are well contractor Willmeng Con- Falcon Park 303 Phase I in Glendale will be a 599,468-square-foot speculative industrial product located along the positioned in the Southwest struction, architect Gray Loop 101 corridor in Glendale. (Photo courtesy of US Capital Development) Valley.”
