East Valley Business - 04.17.2022

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east valley

Volume 4 Issue 40 Mesa, AZ

April 17, 2021

JX Nippon Mining & Metals announced its purchase of 65 acres for $29 million and plans in the first phase to building two manufacturing buildings and an adjacent office building, totaling approximately 240,000 and 27,000 square feet, respectively. (Courtesy JX Nippon)

2 big land deals tighten airport area market BY JOSH ORTEGA AND SCOTT SHUMAKER Tribune Staff Writers

T

IN THE BIZ

he stock of industrial real estate around the Phoenix-Mesa Gateway Airport continues to shrink with two recently announced land deals. Insiders say the deals reflect the momentum of the industrial real estate market in southeast Mesa, which is being propelled by a number of favorable conditions. In late March, EastGroup Properties, Inc. Public Notices ............... page 3 © Copyright, 2022 East Valley Tribune

paid $13.5 million for 50 acres at the Loop 202 and South Hawes Road for the Gateway Interchange project. The company plans to build seven industrial buildings totaling 655,400 square feet at the site. A spokesperson for EastGroup said the complex will have all the features required to support a wide range of modern industrial users, including high-tech manufacturing and logistics. The company also touted amenities for workers baked into the design, including six out(USPS 004-616) is published weekly

Mailing Address: 1620 W. Fountainhead Pkwy., Suite 219, Tempe, AZ 85282

(480) 898-6500 Steven Strickbine, publisher Paul Maryniak, executive editor

door covered patios that are interconnected by trails and turf areas for cornhole and other outdoor games. If the company begins construction in the next three months as planned, it may coincide with groundbreaking for another recently announced industrial project in the Gateway area: on April 4, semiconductor materials supplier JX Nippon Mining & Metals announced its purchase of 65 acres on the opposite side of the Gateway airport. Subscriptions are $26 for 2 years, $14 for one year. Periodicals postage paid at Phoenix, AZ 85026.

POSTMASTER: Send address changes to: East Valley Tribune, 1620 W. Fountainhead Pkwy., Suite 291, Tempe, AZ 85282


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