- Thursday, August 20, 2020
- Deer Valley, AZ
News Release: Seefried Industrial Properties and Crow Holdings Capital to Develop Last Mile Delivery Station in Deer Valley, AZ (Maricopa County)
Deer Valley, AZ - The Phoenix office of Seefried Industrial Properties along with a private equity real estate fund advised by Crow Holdings Capital have acquired a 35-acre site with plans to develop an last mile delivery station, also known as "Project Andale."
Located at northeast corner of 7th Avenue and Pinnacle Peak Road, the project will include a 145,470 square-foot standalone package delivery facility used to complement a larger fulfillment center in west Phoenix. Additional features include over 13,000 square feet of office and break room space and parking for 780 delivery vans and 305 employee vehicle spaces.
Robert Guerena, Senior Vice President for Seefried Properties had this to say about the project: "Demand for state-of-the-art last-mile logistics space is something that we expect to continue to rise as shorter delivery times influence the way e-commerce companies conduct business. The northwest Phoenix market presents an ideal opportunity for this new industrial build, offering strong transportation infrastructure and a growing residential market. Our capital partner, Crow Holdings, recognized the same and we are proud to bring this last mile addition to the growing e-commerce footprint within the Phoenix metropolitan area."
The project is scheduled for shell completion during the fourth quarter of 2021.
Layton Construction has been engaged as the general contractor; Ware Malcomb is the Architect and Hunter Engineering, Inc is the civil engineer.
For more information, please contact:
Senior Vice President - Western Region
About Seefried Industrial Properties:
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties specializes in the development, leasing and management of industrial real estate in key markets across the U.S. Seefried leases and manages approximately 35 million square feet for its institutional and European clients and has developed, or is in the process of developing, more than 190 million square feet of space valued in excess of $13 billion across 30+ markets. Based in Atlanta, the firm has regional offices in Dallas, Chicago, Los Angeles and Phoenix. For more information, please visit www.seefriedproperties.com
About Crow Holdings Capital:
Crow Holdings Capital is the real estate investment management company of Crow Holdings. Led by a highly experienced team, Crow Holdings Capital manages $10.5 billion of real estate assets through its series of nine flagship value-add funds invested across property types in the United States, as well as its specialized fund strategies for retail, self-storage and multifamily. Crow Holdings is a privately owned real estate investment and development firm with a 70-year history and a strong track record of performance, partnership and innovation. For more information, please visit www.crowholdings.com/chc