KBC Advisors' Arizona Industrial Project Ready for Business

KBC Advisors’ 153,145-square-foot indsutrial project in Peoria, Arizona has been finished.

The site, dubbed Empire 101, features one building with 21 dock doors, two drive-in bays, 32-inch clear heights, 10 levelers, and 90 clerestory windows. Outside of the one building site is a 65,000 square foot yard, a truck court, and parking that covers 144 automobiles.

The Class A building is a dozen minutes away from Taiwan Semiconductor Manufacturing Company’s (TSMC) Arizona FAB campus, and within a half hour of Sky Harbor International Airport and downtown Phoenix.

“Empire 101 provides brand new construction on a prime infill site – a rare combination in Phoenix that will empower its tenant with access to almost 2.5 million residents within a 30-minute drive and extreme proximity to TSMC, the $64 billion, three-fab investment that is transforming Arizona into a semiconductor powerhouse,” Mike Freret, partner at KBC and Arizona market lead, said in a statement.

Currently, Phoenix is one of the hottest areas for industrial activity. According to a second-quarter report from Transwestern, net absorption in the area was 4.2 million square feet. That’s up 59 percent year-over-year and 32.8 percent from the decade quarterly average. While rent growth in the area is expected to stabilize, prices are up 78.5 percent from pre-pandemic levels and 15.8 percent year-over-year. Phoenix’s industrial market benefits thanks to its multiple airports, highways, and proximity to Southern California, according to Transwestern.

Empire 101′s leasing brokers were Mike Ciosek and Eric Bell of Kidder Mathews.

“Our industry is currently delivering millions of square feet of warehouse construction in the Valley. This project stands apart from its competition by offering some features that others don’t, namely freeway frontage, turn-key specifications and a fully secured yard for outdoor storage,” Ciosek said.

“We’re looking for that tenant that can take advantage of these options from the typical in-line offerings.”

Stevens-Leinweber Construction completed the project for KBC.