TCC and CBRE Investment Management Announce Completion of 516,000-Square-Foot Logistics Development in Arizona
Elliot Gateway Includes Four Class A Buildings in Mesa
January 24, 2023
Trammell Crow Company (TCC), the global commercial real estate developer, and JV partner CBRE Investment Management, a global real assets investment management firm, announced that construction is complete at Elliot Gateway in Mesa, Arizona. The four-building logistics park sits on a 40.5-acre site at 9020 East Elliot Road and includes four Class A industrial facilities.
Within Elliot Gateway, three buildings remain available for lease; Building A spans 151,239 square feet, Building B spans 124,611 square feet, and Building D spans 54,640 square feet. Building C includes 186,000 square feet and is fully leased to a mechanical and electrical construction company. Each building within Elliot Gateway offers ample car parking, secure truck courts and excellent accessibility.
“Elliot Gateway is an incredibly well-located project in the City of Mesa, situated in the center of the Elliot Technology Corridor, a key demand driver and growing technological center point of the Southeast Valley that is attracting a variety of new businesses,” said Ryan Norris of Trammell Crow Company. “The remainder of the space that is available for lease at Elliot Gateway is well-suited for a variety of uses, including high-tech manufacturing and logistics. Tenants will greatly benefit from highly visible freeway frontage and direct access off the full diamond interchange at Elliot Road and the Loop 202.”
Graycor Construction Company served as the general contractor. Butler Design Group was the project architect.
“Industrial facilities have been booming in Mesa over the past several years, but Elliot Gateway is setting the bar with its sophisticated building features and offerings,” said Rusty Martin, Graycor General Manager of the Southwest. “The placement and design of Elliot Gateway turns a traditional industrial project into a dynamic, horizontal mixed-use business park that will attract heavy-hitter industrial/employment opportunities.”
The Elliot Gateway site plan was conceived with connectivity in mind with new private drive extensions, a series of interconnected sidewalks and pedestrian rest nodes featuring seating areas that are naturally shaded by tree canopies. The project’s landscape consists of native vegetation that spans the full site and visually ties Elliot Gateway together from border to border.
Elliot Gateway was also designed and developed with sustainable practices intended to reduce the project’s overall carbon footprint. Precast panels were fabricated on site from locally sourced concrete suppliers. Highly reflective TPO roof systems and desert landscaping help to reduce the heat island effect, and watering systems reduce water consumption. Clerestory windows and roof skylights reduce lighting needs and electrical usage by maximizing interior natural light. Shade canopies over entry and office components reduce adverse heat gain to the interior environment.
Evan Koplan and Serena Wedlich of CBRE are marketing and leasing the property on behalf of TCC and a fund sponsored by CBRE Investment Management.
"We are excited to deliver the highly desirable industrial product to the Mesa submarket, ideally situated on the Elliot Road Technology Corridor. Trammell Crow Company has once again delivered a best-in-class industrial development with ideal location/visibility, access, design, clear height, power and loading to accommodate a wide range of users in the marketplace," said Evan Koplan, SVP with CBRE. "Our leasing team has been thoughtful in delivering solutions to users who require immediate occupancy and is finalizing construction on spec suites in the remaining buildings at Elliot Gateway. This development has been very well received in the marketplace, including a 186,000-square-foot pre-lease at 9029 E. Peterson Avenue. User demand continues to drive this market, and we look forward to being a viable option for both local and new-to-market companies."
About CBRE Investment Management
CBRE Investment Management is a leading global real assets investment management firm with $143.9 billion in assets under management* as of September 30, 2022, operating in more than 30 offices and 20 countries around the world. Through its investor-operator culture, the firm seeks to deliver sustainable investment solutions across real assets categories, geographies, risk profiles and execution formats so that its clients, people and communities thrive.
CBRE Investment Management is an independently operated affiliate of CBRE Group, Inc. (NYSE:CBRE), the world’s largest commercial real estate services and investment firm (based on 2021 revenue). CBRE has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE Investment Management harnesses CBRE’s data and market insights, investment sourcing and other resources for the benefit of its clients. For more information, please visit www.cbreim.com.
*Assets under management (AUM) refers to the fair market value of real assets-related investments with respect to which CBRE Investment Management provides, on a global basis, oversight, investment management services and other advice and which generally consist of investments in real assets; equity in funds and joint ventures; securities portfolios; operating companies and real assets-related loans. This AUM is intended principally to reflect the extent of CBRE Investment Management’s presence in the global real assets market, and its calculation of AUM may differ from the calculations of other asset managers and from its calculation of regulatory assets under management for purposes of certain regulatory filings.
About Trammell Crow Company
Trammell Crow Company (TCC) is a leading commercial real estate developer and an independently operated subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2022, TCC had $19.5 billion of projects in process and $13.5 billion in its pipeline. It employs 700 professionals in 27 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/ logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.
About Graycor Inc.
Graycor Inc. is a leader in managing building and interiors construction projects throughout North America. In Arizona, Graycor combines more than 35 years of local subcontractor and partner relationships with the company’s more than 100 years of national experience in the cold storage, corporate, cultural/educational, food processing, living and lodging, logistics and distribution, manufacturing and retail markets. The combination maximizes Graycor’s national presence to bring Arizona clients optimal service and product delivery. For more information, visit www.graycor.com.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serv ing clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.