(MENAFN- PR Newswire)
Development is part of the company’s robust near-term commercial pipeline in Arizona
PHOENIX, Nov. 7, 2024 /PRNewswire/ — Thompson Thrift , a full-service nationally recognized Real estate company engaged in industrial, commercial, multifamily, mixed-use and retail projects across the country, announced today that it has completed construction on the first phase of Germann Commerce Center industrial development in Queen Creek, a thriving suburb southeast of Phoenix.
“Thompson Thrift Commercial is continuing a significant period of expansion and growth,” said Dan Sink, president and chief financial officer for Thompson Thrift Development. “We are excited to have completed the first phase of Germann Commerce Center and are looking forward to continuing to expand our industrial development platform.”
Located on the southwest corner of Germann and Meridian Roads, the first phase of Germann Commerce Center consists of approximately 400,000 square feet of speculative light industrial space in five standalone buildings spread across approximately 26 acres. The buildings offer front-park/rear-load industrial, with clear heights from 28 to 32 feet and frontage on East Germann Road. Thompson Thrift will complete the build-out of the speculative office space in phase I by the end of the year.
The second phase is being marketed for build-to-suit and for-sale options. At full build-out, Thompson Thrift expects to have just over 1 million square feet of warehouse, distribution, light assembly and manufacturing space between 12 buildings on approximately 70 acres.
The Germann Commerce Center is the closest industrial facility to LG Energy Solution, which is underway with a $5.5 billion battery manufacturing complex that is expected to create 4,000 new jobs and propel them to be Queen Creek’s largest employer. The first 1.7 million square feet is expected to be completed in early 2026.
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