"I'm really excited about the Falcon Field area," Bob Deininger, a principal with Shea Commercial, tells GlobeSt.com. "It reminds me of the Deer Valley area five to seven years ago. It's an area with a lot of growth around it including major companies nearby and access to Loop 202 and Superstition Freeway." Shea's newest project site takes up the southwest corner at the intersection of Higley Road and Ingram Street.
Shea plans to invest at least $13 million to develop Falcon Commerce Park, designed with three industrial buildings with yards and 15 pad sites ranging from one to three acres. Dieniger says condos will sell for $115 per sf for shell space and pads will go for $6 per sf to $12 per sf.
Shea will break ground on Falcon Commerce Park in November, setting up a first-quarter delivery in 2006. According to Deininger, the developer plans to put in all the infrastructure improvements for the park.
Deininger says Shea has commitments for five industrial lots and five condos. "There are a lot of owner-users that are interested in this type of space," he says, adding potential buyers range from contractors to manufacturers to showroom operators. "We have users as large as 100,000 sf looking for space," he says.
Phoenix-based DFD Cornoyer Hedrick is the architect for the project. The general contractor has not yet been determined. Shea's in-house staff is marketing Falcon Commerce Park.
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