Denver industrial developer plans first Valley project
Denver-based Comunale Properties is developing its first project in the Phoenix market, a 201,000-squarefoot industrial project adjacent to the Chandler Municipal Airport.
The project, called Chandler Connection, will be located on Germann Road between Gilbert and Cooper roads. Stevens-Leinweber Construction is the general contractor.
“We’ve had great success with this product type in Colorado and see the same demand patterns in the Southeast Valley, particularly from advanced manufacturers and last-mile operators positioning themselves to serve Chandler, which is metro Phoenix’s third most dense submarket,” John Comunale, president of Comunale Properties, said in a statement. “We view Chandler Connection as our springboard into Phoenix and a natural next step in our company’s growth. We’re excited to be here.”
Comunale closed on the 17-acre property in March for $5 million, according to real estate database Vizzda. Construction on the project is scheduled to begin in July with completion planned during the first quarter of 2022.
Comunale is continuing to seek land acquisition opportunities in the Southeast Valley and metro Phoenix for future projects.
Butler Design Group is the architect for the project and Ken McQueen and Chris McClurg of Lee & Associates are the leasing brokers. The building can accommodate leases ranging from the full building down to 14,500 square feet.
The Phoenix metro is expected to add a record-breaking 18.4 million square feet of industrial space in 2021, placing the Valley second for industrial space coming online this year nationwide, after Dallas.
According to a study by CommercialSearch using CommercialEdge data, Phoenix is projected to add 56 new industrial buildings this year, totaling 18.4 million square feet. That represents a 76% increase over last year, which was also a record in the Valley for industrial construction.
Phoenix Business Journal