Creation completed construction on Park Algodon, a $250 million industrial and mixed-use development at the northwest corner of Loop 101 and Indian School Road in Phoenix.
Spanning approximately 86 acres, Park Algodon combines 1.3 million square feet of Class A industrial space with an adjacent seven-acre mixed-use destination, introducing retail and restaurants.
The first phase of the industrial portion of Park Algodon was developed in partnership with Clarion Partners. The two-phase speculative industrial development comprises four buildings totaling 725,000 square feet, designed to accommodate tenants ranging from 30,000 to 317,000 square feet. The second phase is permit approved for a single 556,000-square-foot building.
Separate from the joint venture, Creation developed The Shops at Park Algodon, delivering more than 14,000 square feet of restaurant and retail space. Buildings A and B will be turned over to tenants within the next 30 days, with several openings anticipated later this year.
Architecture and construction for Park Algodon were led by LGE Design Build. Industrial leasing is handled by Cushman & Wakefield’s Andy Markham and Phil Haenel. Matt Milinovich and James DeCremer with Avison Young are handling the mixed-use leasing.
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The post Creation, Clarion Complete $250M Phoenix Mixed-Use Venture appeared first on Connect CRE.
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