JV Breaks Ground on $250M Phoenix Campus

Real Estate
A rendering of Park Algodon. Image courtesy of Creation and Clarion Partners

A joint venture of Creation and Clarion Partners has broken ground on the first phase of a $250 million industrial and mixed-use campus in Phoenix. Upon completion, Park Algodon, a two-phase project, is set to total some 1.3 million square feet.

The first phase of the infill project consists of four buildings totaling 766,000 square feet. Configurations will cater to tenants ranging from 16,000 square feet to 317,000 square feet. The second phase of the project will be a single-building development totaling 556,000 square feet.

Commercial Edge data shows that Building B will total 319,200 square feet, Building C will be 122,720 square feet, Building D will deliver at 156,200 square feet and Building E will be 156,200 square feet.

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Designed by LGE Design Build, both phases are anticipated to feature 32- to 36-foot clear heights, access to power and parking. Future tenants can vary across the industrial spectrum. The first buildings are expected to deliver in the third quarter of 2025.

Creation and Clarion Partners originally acquired the land for the project late last year. Situated on 87-acres, Park Algodon is located on the northwest corner of Loop 101 and Indian School Road. Interstate 10 is within proximity of the project, while downtown Phoenix is some 15 miles east.

Cushman & Wakefield’s Mike Haenel, Andy Markham and Phil Haenel will head up leasing for Park Algodon.

Creation, separate from the joint venture development, is also building more than 14,000 square feet of restaurant and retail space on an adjoining site to Park Algodon. The project, The Shops at Park Algodon, is situated on 7 acres. Matt Milinovich and James DeCremer with Avison Young are heading up leasing.

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