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GlobeSt.com EXCLUSIVE: Shea Unveils 35-Acre Project

MESA, AZ-The Scottsdale-based developer is planning 55,000 sf to 60,000 sf of industrial condos and 15 "for-sale" sites for its latest development, Falcon Commerce Park. Ground breaks in November on an estimated $13-million undertaking.

By Jennifer D. Duell | Updated on May 31, 2005

MESA, AZ-Shea Commercial LLC has purchased 35 acres to develop 55,000 sf to 60,000 sf of industrial condos and 15 “for-sale” pad sites. The Scottsdale-based developer has paid $4.8 million to Higley and Ingram LLC of Edmonton, Alberta, for the land.

“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.

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