Mack Arizona, part of the Mack Cos., one of the largest industrial developers in the world, will break ground within the next two months on Phase I of the project with the construction of two buildings, 57,764 sf and 135,236 sf, at 15th Drive and Rose Garden, Insignia/ESG director Jerry Hillery tells GlobeSt.com.

"We're seeing more of a distribution use coming to Deer Valley and since there is only one other (similar) project there, we feel it's a good opportunity," Hillery said. Several tenants have already expressed interest in the project, which will provide dock-high capability along with one truck well per bay, but no leases have yet been signed, Hillery said.

The project, which is scheduled to be completed by late summer or early fall, will offer leasing rates that will be "extremely competitive with the market," he noted. Rents in the area average in the high 50 cents per sf to the low 60 cents per sf range, he said.