The ±64,245 square foot “Willis and Arizona Avenue Corporate Park” industrial flex project is currently being constructed just east of the Willis Road / Arizona Avenue intersection. The 10.55 acres of land and partially finished improvements were sold July 17th to Greenwood & McKenzie for just over $12 million. Greenwood & McKenzie financed the sale with an assumption of an existing construction loan with Western Alliance Bank with a current balance of $7,892,621. A schedule within the loan assumption agreement confirms that $1.58m of the remaining loan is planned for additional construction and tenant improvements.
Signage at the construction site states that the corporate park will be “available summer 2015” with “office/warehouse suites from 4,479 SF & up”.
|Photo from development site dated 7/20|
(Image is property of Vizzda LLC)