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The first phase of the Virgin Industrial Park along the Loop 303 corridor is bringing more than 1 million square feet of warehouse space to the Phoenix market. Plus, our weekly roundup of Valley real estate deals includes a prime land transaction in Mesa, a new auto reconditioning center and more.
IndiCap and Invesco Real Estate have completed Phase I of Virgin Industrial Park, an industrial development at 15748 W. Hatcher Road in the Phoenix suburb of Glendale.
Graycor Construction Company has completed Phase 1 of Virgin Industrial Park. The project by IndiCap and Invesco Real Estate has put a wrap on the Virgin Industrial Park, a 1.5 million square foot project with five Class A buildings located within metro Phoenix’s Loop 303 Corridor.
Leading general contractor Graycor Construction Company has announced the completion of Phase 1 of Virgin Industrial Park. A project by industrial development specialist IndiCap and Invesco Real Estate, a global real estate investment manager, Virgin Industrial Park is slated for 1.5 million square feet and five Class A buildings within metro Phoenix’s sought-after Loop 303 Corridor.
Clusters of big-name companies are lining up in parts of the East Valley, particularly along the Price Road corridor and in and around Phoenix-Mesa Gateway Airport, drawn to the area's well-educated workforce.
Indicap announced the leasing of 42KSF in Eastmark Center, a 978.8KSF industrial campus in Mesa. Steven Larsen, Pat Harlan and Jason Moore of JLL represented Eastmark in the lease. Paul Sieczkowski, Justin Sieczkowski and Amy Chadick of Colliers represented the tenant, Rexel USA.
Indicap proudly announces a new lease agreement with Rexel USA for 42,084 square feet in Phase 1 of the Eastmark Center of Industry.
Rexel USA, a Dallas-based electrical supply distributor, signed a hefty lease through JLL at the Eastmark Center of Industry business park in southeast Mesa.
Todd Ostransky, vice president of development at Indicap, knew Metro Phoenix was a market the firm wanted to enter for industrial development. Though the area is a hotbed of industrial activity, Indicap’s attention immediately set on Mesa, less than 20 miles east of Phoenix, for its inaugural project.
Towns in the southeast Valley have seen explosive growth over the past decades including Gilbert and Queen Creek.
While we don’t have a crystal ball to look ahead when it comes to Arizona’s commercial real estate outlook for 2024, several factors historically influence the state’s market — and those companies on the list of the AZ Big 100 for 2024 will be shaping those factors. Arizona’s growing population, a key driver for commercial real estate, is often attracted by its business-friendly environment and quality of life. Cities like Phoenix, with a thriving tech industry, are likely to see increased demand for office spaces.
Todd Ostransky grew up watching his father swing a hammer. He now oversees the development of some of the Valley’s largest industrial parks. Ostransky, the vice president of development for IndiCap, from an early age had envisioned himself as an architect, bringing new projects to life. But after a few classes at the University of Nebraska-Lincoln, the Midwest native felt the construction side was a better fit for his career and eventually received a Bachelor of Science in Construction Management.
Todd Ostransky, inspired by watching his father work as a youngster, oversees construction of some of the Valley's largest industrial parks as IndiCap's vice president of development.
The Ranch, a multi-phased project that's set to transform more than 300 acres on the southwest corner of Elliot and Power road in Gilbert, is set to break ground sometime in May or June.
Every year, AZ Big Media, which publishes both PTK and AZRE magazines selects Arizona’s top people and projects to showcase in its premier commercial real estate magazine — PTK — from an impressive and competitive nomination pool.
Surveyed list with the following information points: Total commercial square footage developed in 2022, number of local projects developed, office square footage, industrial square footage, retail square footage, multifamily square footage, top local executive.
Developer IndiCap Inc. is proposing a change to the Copper Falls Community Master Plan in Buckeye that would allow for the creation of a residential and commercial development with open space on 72.29 acres of the overall 275-acre area.
The East Valley has become ground zero for several ambitious projects, including one with a $20-billion pricetag. Whether already being built or in the pipeline, these developments, upon completion, will bring thousands of jobs to the area and a ripple effect of indirect jobs and additional investments.
Las Vegas based company, IndiCap, has been named a 2023 Influencer in Industrial Real Estate by the esteemed GlobeSt. Real Estate Forum. This annual recognition highlights the movers and shakers in the real estate industry who demonstrate transformative influence. With a portfolio of over 10 million square feet of commercial real estate, IndiCap has solidified its position as a leading influencer in the field.
IndiCap, a Las Vegas-based industrial development company, has been recognized as a 2023 Influencer in Industrial Real Estate by GlobeSt. Real Estate Forum. The esteemed editors of GlobeSt. Real Estate Forum annually highlight individuals and organizations who demonstrate exceptional influence and excellence in the real estate industry.
IndiCap, a Las Vegas based industrial development company, has been honored as a 2023 Influencer in Industrial Real Estate by GlobeSt. Real Estate Forum. This prestigious recognition highlights individuals and companies that have made significant contributions to the real estate industry. IndiCap stands out for its expertise in prime location land development and its strong partnerships with local professionals.
Las Vegas based IndiCap, a privately held industrial development company, proudly announces its distinction as a 2023 Influencer in Industrial Real Estate by the editors of the esteemed GlobeSt. Real Estate Forum.
The industrial asset class has not been as beleaguered as some other categories in commercial real estate but it still has posted challenged to the community. Fundamentals are softening and subleasing has gained currency in many locations as vacancies increase. This is not to say that the space is facing any long-term difficulties – next year many believe that the vacancies will drop once more as the supply tightens. We have selected the following men, women, teams and companies as those best suited to help guide the industry through these times due to their skills and industry knowledge.
Indicap, Colmena Group and Langley Properties announced today the successful acquisition of the 311+ acres of land at the northwest corner of Power Road and Warner Road in Gilbert, Arizona for $107,500,000 in an all cash transaction, which is believed to be one of the largest private land transactions in Maricopa County in the last year. The land in Gilbert will be used to develop The Ranch, a billion-dollar mixed-use project that will include industrial, retail, office and residential. The project will now move to the site planning and design phase with a groundbreaking scheduled for the third quarter of 2024.
The team behind one of the largest — and most expensive — mixed-use developments in the East Valley has secured the land for its project. Power Ranch LandCo LLC closed a deal to acquire more than 300 acres of Gilbert land from The Dale C. Morrison Trust for $105 million on Wednesday, according to an affidavit of property value recorded in Maricopa County.
The team behind one of the largest — and most expensive — mixed-use developments in the East Valley has secured the land for its project that had attracted neighborhood opposition and was significantly altered from its original proposal.
The development initially was billed as a large industrial project and faced strong neighborhood opposition. More common ground was reached with the addition of the multifamily and more walkable amenities along with restaurants and retail. Here's how the project details have changed.
A region’s real estate market is often representative of the area’s growth and progress, and while housing markets are known to experience fluctuations, Las Vegas has never failed to bounce back. Our home is one of resilience and perseverance and it continues to expand. The development of the Las Vegas Valley and greater Southern Nevada region have inspired massive population increase over the last 50 years, transforming what was once a small desert outpost into the bustling metropolis that is today’s Las Vegas.
The boutique commercial real estate company IndiCap, who specializes in industrial investment and development in Arizona along with Colmena Group, a real estate development and investment company headquartered in Salt Lake City, and Arizona-based Langley Properties announced today, after a near 18 month negotiation with both the town of Gilbert and their neighbors, that the groundbreaking project has received approval on its zoning request and general plan amendment revisions, which clears the way for development of The Ranch.
The Las Vegas based boutique commercial real estate company IndiCap, who specializes in industrial investment and development, along with Colmena Group, a real estate development and investment company headquartered in Salt Lake City, and Arizona-based Langley Properties announced today, after a near 18 month negotiation with both the town of Gilbert, Arizona, and their neighbors, that the groundbreaking project has received approval on its zoning request and general plan amendment revisions, which clears the way for development of The Ranch.
The Town of Gilbert, a suburb southeast of Phoenix, has approved the zoning request for a 311-acre mixed-use development called The Ranch. Indicap, Colmena Group and Langley Properties are leading the project and estimate that development costs exceed $1 billion.
Seven months after developers and residents began to work on a compromise in order for The Ranch mixed-use project to get off the ground, Gilbert Town Council passed the reworked proposal on Tuesday.
The Ranch, which will be developed by IndiCap, Colmena Group and project investor Langley Properties, will be spread across 300 acres on the southwest corner of Elliot and Power roads. The Phoenix Business Journal reports that the project remains mostly an industrial one, accounting for 221 of the 311 acres of the site.
The once controversial project, though modified, remains mostly an industrial one, with that use accounting for 221 of the 311 acres for the site. Included in the modifications: An additional 16.6 acres of open space between the residential neighborhoods across the street and industrial components.
Multifamily housing, high-end restaurants and a greenbelt over 12 football fields long are envisioned to help shield residents from the sight of light-industrial buildings with loading docks proposed for over 250 acres next to Morrison Ranch.
Before the Covid-19 pandemic, Casa Grande had not seen speculative industrial development since the 1980s. Now multiple developers are working on plans to build large industrial parks across the county.
IndiCap and Invesco have broken ground on Virgin Industrial Park, a five-building, 1.5 msf, Class A industrial project being constructed in the booming Loop 303 Corridor, in metro Phoenix’s West Valley.
IndiCap, Invesco and the Phoenix office of JLL joined with local dignitaries and project partners to celebrate the groundbreaking of Virgin Industrial Park, a five-building, 1.5 million-square-foot Class A industrial project being constructed in the booming Loop 303 corridor of the West Valley.
After encountering stiff neighborhood opposition to its planned industrial development The Ranch near Power and Elliot roads in Gilbert, developer IndiCap has pivoted and submitted a minor General Plan amendment and rezoning request to add residential components to the site.
Residents spoke out strongly against The Ranch at Gilbert Town Council's November meeting, so here's how developers have modified their proposal for the project.
A groundbreaking ceremony for a 1.54-million-square-foot industrial park was held along the Loop 303 corridor in the West Valley Thursday.
IndiCap, Invesco and the Phoenix office of JLL have joined with local dignitaries and project partners to celebrate the groundbreaking of Virgin Industrial Park, a five-building, 1.5 million-square-foot Class A industrial project being constructed in the booming Loop 303 Corridor, in metro Phoenix’s West Valley.
IndiCap, in a joint venture with Invesco Real Estate, has broken ground on Virgin Industrial Park, a five-building, 1.5 million-square-foot industrial project in Waddell, Ariz.
IndiCap and Invesco are working together on a 1.5 million square foot industrial project in Phoenix. They secured an $88 million to get started on the first phase.
The Vantage Data Centers development by McCarthy Building Companies in Goodyear has been awarded a STAR Site designation from the Arizona Division of Occupational Safety and Health’s Voluntary Protection Program for “exemplary and comprehensive safety and health management systems.”
Developers have continued building in the Phoenix metro even as the nation has started to see supply of buildings outpace demand for space, or a cool-down in leasing activity in the fourth quarter of 2022.
A Las Vegas developer that has been active across greater Phoenix in recent months plans an industrial park in the West Valley as construction stays brisk in the region despite a national pullback by industrial developers.
IndiCap, a boutique commercial real estate company specializing in industrial investment and development in the Arizona and Southwest U.S. markets, has completed financing for the Virgin Industrial Park project in Maricopa County, within metro Phoenix’s West Valley, with the closure of a loan for Phase I and the cash closing on the land for Phase II of the project.
The construction cost is estimated to be $26 million per building for a total of $52 million. “This industrial development will help serve the region’s needs and will be home to advanced manufacturing companies that will bring high wage jobs to our community,”
PHOENIX — Developers have broken ground on a 113-acre industrial park in Mesa that will be home to more than 1.6 million square feet of space across 10 buildings.
IndiCap and AECOM-Canyon Partners today joined JLL and the City of Mesa to break ground on Eastmark Center of Industry, a 113-acre industrial park located in the heart of the Gateway Airport submarket in Mesa, Arizona.
IndiCap, together with AECOM-Canyon Partners, has broken ground on Eastmark Center of Industry, a 1.6 million-square-foot industrial park in Mesa, Ariz. The development team includes Layton as general contractor, Kimley Horn serves as general engineer and Deutsch Architecture is the project architect.
MESA, ARIZ. — IndiCap and AECOM-Canyon Partners have broken ground on Eastmark Center of Industry, a 113-acre industrial park in Mesa’s Gateway Airport submarket.
IndiCap and AECOM-Canyon Partners joined JLL and the City of Mesa to break ground on Eastmark Center of Industry, a 113-acre industrial park located in the heart of the Gateway Airport submarket in Mesa, Arizona.
A Nevada industrial developer broke ground on a 10-building industrial park located between data centers for Apple and Meta near Phoenix-Mesa Gateway Airport in Mesa, Arizona.
Davis Commercial AZ announced that it has expanded its office with the hiring of an associate broker and a business development specialist. Joining the firm is associate broker David Roberson and business development specialist Cathy Maloney.
IndiCap, a boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, announced Geovanni Villalta, an accomplished professional with more than 20 years in the construction industry, has joined the IndiCap team as a senior development manager.
Boutique commercial real estate firm IndiCap has hired Leah Rinta as Controller to oversee the company’s operational accounting, financial reporting and related internal controls.
PHOENIX (April 26, 2022) - IndiCap, a newly formed boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48 million acquisition of two parcels of land totaling 113 acres in the Eastmark master-planned community located in the heart of the Mesa Gateway submarket.
IndiCap and AECOM-Canyon Partners recently teamed up on the acquisition of 113 acres of land in Mesa, Ariz., for the development of Eastmark Center of Industry, a 1.6 million-square-foot industrial development. The joint venture partners paid $48 million for the two parcels of land, located in the Eastmark master-planned community.
PHOENIX — A Nevada-based commercial real estate company has made its first foray into Arizona, buying 113 acres of land near Phoenix-Mesa Gateway Airport. IndiCap’s $48 million purchase, a joint venture with AECOM-Canyon Partners, will consist of 10 buildings with over 1.6 million square feet of industrial buildings. The project, called Eastmark Center of Industry, is located within the Elliot Road Technology corridor.
Boutique commercial real estate company IndiCap continues its formidable metro Phoenix industrial development push with the announcement of Virgin Industrial Park, which it will develop in partnership with Invesco. At build-out, the two-phase, 110-acre Class A development will total more than 1.5 million square feet in five buildings. It will also bring IndiCap’s local industrial development pipeline to more than 14.4 million square feet and over 880 acres.
The joint venture of IndiCap and Invesco intends to develop a Class A industrial campus in Glendale, Ariz. Set to comprise more than 1.5 million square feet across five buildings, Virgin Industrial Park is slated to break ground in November 2022. Graycor Construction Co. will serve as general contractor, while Deutsch Architecture Group will provide architecture services for the project.
The project, Eastmark Center of Industry, will contain 10 buildings totaling more than 1.6MSF of mid-bay and cross dock industrial buildings. Cornerstone companies assisting in the land acquisition and development include Layton Construction, Kimley Horn, Deutsch Architecture and Snell & Wilmer. Pat Harlan, Steve Larsen and Jason Moore from the Phoenix office of JLL represented IndiCap in its site selection and land acquisition.
As a result, large real estate companies are coming to Arizona and buying up land parcels around the areas that tech companies locating in Phoenix. Recently a Nevada-based company called IndiCap, in a JV with AECOM-Canyon Partners bought 113 acres of land near Phoenix-Mesa Gateway Airport for $48 million. It plans to build 10 buildings with over 1.6 million square feet of industrial buildings.
IndiCap, a boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, announced today Todd Ostransky, IndiCap’s vice president of development, will oversee the growth of the Mountain States Region with a current focus on the development of several Arizona projects.
IndiCap has joined forces with AECOM-Canyon partners to buy two parcels of industrial zoned land in the Mesa Gateway submarket. The parcels, which total 113 acres are in the Eastmark master planned community. The parcels acquisition price was $48 million. The real estate at Eastmark will contain 10 buildings totaling over 1.6 million square feet of industrial space. They will range from 83,200 square feet to 426,000 square feet.
IndiCap, a newly formed boutique commercial real estate company specializing in industrial investment and development in the Arizona and Nevada sectors, in a joint venture with AECOM-Canyon Partners, announced its entry into the Phoenix real estate market with the recent $48 million acquisition of two parcels of land totaling 113 acres in the Eastmark master-planned community located in the heart of the Mesa Gateway submarket.
