Inclusive of Anixter, this brings JLL's new lease commitments at Airport I-10 to 215,000 total square feet, leaving the project's three-building, 600,000-square-foot Phase I at 35% leased, before construction is even finalized.

Harlan tells GlobeSt.com these leases speak to the strength of the Phoenix market. “These leases are indicative of a long developing trend of companies benefitting from market expansion. We did not have enough quality institutional product to satisfy the growing occupier demand driven by the expanding consumer economy. Any time there is a new spec development gaining commitments from tenants prior to construction delivery, it speaks to the exceptional dynamics of the submarket and the superior quality of the development itself. If you were waiting for the Phoenix market to recover, it's already happening.

“Modern companies want modern buildings. This is making all types of users more sophisticated about what they look for in an industrial location,” continues Harlan. “They are requiring the kind of improved function that you get from features like higher clear heights, better overall building layout and better truck maneuverability. Airport I-10 checks all of these boxes, and because of this is attracting tenants making an overall flight to quality – a trend that is happening across the entire industrial market.”

“Airport I-10 was designed to give modern industrial tenants a home in the heart of Phoenix's industrial distribution network. We couldn't be more pleased with the companies that have committed to space here,” said Wentworth Property Company principal James R. Wentworth. “They are a barometer of the types of businesses that we believe will continue to chose Airport I-10 and build out one of the submarket's best and last industrial parcels.”

Located at the northwest corner of 24th Street and Rio Salado, Airport I-10 Business Park represents the last large, developable parcel left in the Sky Harbor International Airport submarket. Phase I includes three Class A industrial buildings totalling more than 600,000 square feet (277,954 square feet, 169,109 square feet and 156,000 square feet). This portion of the project is 35 percent pre-leased to Anixter, DHL, DLS and Pilot.

At build out, the 58-acre Airport I-10 property will include five class A industrial buildings totalling 920,584 square feet, with a modern environment for corporate users and fully equipped with state-of-the-art features such as ESFR sprinkler systems, 30- to 32-foot clear heights, cross-dock loading and 140- to 200-foot truck courts.