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PHOENIX-Industrial giant Panattoni Development Co. is placing a massive footprint in the city's industrial corridor with a proposed 600,000-sf big box project. Panattoni will be developing the project, which will be known as Durango Commerce Park, on a 35.9-acre site.Panattoni acquired the site for $4.9 million from Land Source Holdings LLC. On tap for the site are a 500,000-sf and a 100,000-sf building, according to a broker who worked on the land sale.The financial outlay on developing the project was not available. However, the two buildings will be available on a for-sale and a for-lease basis. The project is expected to break ground during the end of the third quarter this year.Gary Anderson of Grubb & Ellis/BRE Commercial tells Globest.com that "the site is one of the few big tracts left to build in the area. Land sales have been very active over the last 18 months."Anderson and Tony Lydon, also of Grubb & Ellis/BRE Commercial, represented Land Source Holdings in the deal. Bo Mills and Mark Detmer with Trammell Crow represented Panattoni.Anderson says the original plans were for Land Source Holdings to develop out the project "to small and mid-size users." Somewhere during that process, Panattoni came to the table "and said they would pay $3.10 per sf."Anderson adds that while the Southwest Valley industrial market, where the Panattoni project is located, is suffering from a lack of available land to build big box projects, the area does have plenty of product in the pipeline. "There are plans for another six million sf to seven million sf of industrial projects being planned."