Thompson Thrift Commercial Enters Industrial Sector
Two Phoenix-area projects slated to break ground this year spanning 1.4 million square feet.
With the goal to meet the nation’s “unparalleled demand” for warehouses, distribution sites and fulfillment centers, Thompson Thrift Commercial, a wholly-owned company of Indianapolis-based Thompson Thrift, announced this week it is diversifying its commercial group to include an industrial sector.
Estimates are that the US may need more than 1 billion square feet of additional industrial space by 2025 to support the growing e-commerce demand, said Chris Alexander, its senior vice president of industrial development.
Two Phoenix-area industrial projects are underway for Thompson Thrift. Phase I of Elliott Tech Center, is a 25.5-acre parcel at the northwest corner of Elliot Road and Signal Butte Road in Mesa, Ariz.
It plans to construct three single-story industrial buildings totaling 255,000 square feet of space as well as five retail pads for manufacturing and tech users. Phase II is scheduled to break ground in 2023 and will consist of five buildings totaling approximately 750,000 square feet.
The project is on the Elliot Road Tech corridor, considered a premier industrial development area in the southwestern United States attracting global tenants such as Apple, Google, Facebook and Amazon.
The second industrial project is a two-phase development on 68 acres at the southwest corner of Germann Road and Meridian Road in Queen Creek, Ariz. This entails 400,000 square feet of new manufacturing, warehousing and distribution space between five stand-alone buildings.
Thomson Thrift Development has more than $3.7 billion of ground-up projects across the Midwest, Southeast and Southwest built during the past 30 years.