Long-Awaited Start Comes for $40M Project

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DEER VALLEY, AZ- Panattoni Development Co.’s Phoenix team has begun construction on a $40-million spec industrial park. The first phase to the 32-acre Alameda Business Park totals 160,000 sf in 10 buildings, all coming out as for-sale space.

The plan is to deliver the first wave in the second quarter and begin work on the next phase in the third quarter. The second phase, also 10 buildings, will total 180,000 sf, with its delivery panned for second-quarter 2008. The spec buildings, rising at the intersection of 19th Avenue and Alameda Road, will range from 11,000 sf to 32,000 sf. The development plan has been working through city channels since the land was bought in May 2006.