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Orsett Breaks Ground on $28M Spec Industrial Project

PHOENIX-Orsett Properties Ltd. decides to build on 17 acres held in abeyance about two years. The undertaking, Pinnacle Peak Commerce Center, will rise as a pair of office/warehouse structures totaling 211,635 sf.

By Jennifer D. Duell | Updated on December 02, 2004

PHOENIX-After holding onto the land for more than two years, Wellesley, MA-based Orsett Properties Ltd. has started work on the $28-million Pinnacle Peak Commerce Center, a speculative office/warehouse development.

The 211,635-sf, two-building project is situated on about 17 acres at the intersection of Pinnacle Peak Road and 23rd Avenue. “We’ve done quite a few speculative buildings throughout the Phoenix area and we’re excited about this project,” says Adrian Evarkiou, senior vice president for Orsett Properties Ltd. “We’ve owned the land for a little over two years and feel the timing is right for a spec project.” The buildings are located in the middle of the expanding Deer Valley submarket near Interstate 17 and Loop 101.

Evarkiou tells GlobeSt.com that Pinnacle Peak Commerce Center does not have a lot of competition. “There’s nothing else under construction at this time and not a lot of existing space in this particular submarket,” he says.

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