Westcore based in UTC is teaming up with The Opus Group based in Minneapolis to develop an industrial complex in Arizona.
The firms plan to build a 720,000 project with three buildings on a 51-acre site in Avondale, a submarket of Phoenix.
Groundbreaking is expected in October with construction set for completion between June and August 2021.
The project will include buildings of 162,000 square feet, 170,000 square feet and 390,000 square feet.
The Opus Group had designed and entitled the project before joining with Westcore.
Bo Mills, head of industrial capital markets in the Western U.S. for JLL, and Marc Hertzberg, Riley Gilbert and Tony Lydon of JLL’s Arizona industrial group represented The Opus Group in the transaction.
Hack Adams, managing director at Westcore, said the firm relied on the JLL’s Arizona industrial group for underwriting information and will engage the team of Hertzberg, Gilbert and Lydon to market the development.
Terms of the development deal were not disclosed.