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Shea Developing $8M, 67,000 SF of Industrial Condos

PHOENIX-Shea Commercial, in an attempt to meet huge demand for business condo space, will develop Mohawk Commerce Center, a 67,405-sf industrial condo complex. Ground will break in early 2006.

By Amy Wolff Sorter | Updated on August 24, 2005

PHOENIX-Shea Commercial will break ground in early 2006 on Mohawk Commerce Center, a 67,405-sf industrial condominium complex. All-in construction costs will be approximately $8 million, with the condos selling for an average of $135 per sf.

Located along Mohawk Lane and near Loop 101, the development’s scheduled completion date will be July 2006. Archicon LC and Caviness Construction Co., both in Phoenix, are the architect and general contractor, respectively, for the project.

According to Bob Deininger, a principal with the Scottsdale-based Shea, Mohawk Commerce Center is already 30% sold with five deals are in escrow. “By the time we break ground, we’ll be 90% sold,” he tells GlobeSt.com.

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