Strategic Sites, Class A Spaces: 4 Speculative Industrial Projects

Leading technology and manufacturing companies are increasingly targeting regions near major transportation and innovation hubs, where population growth is projected, to enhance logistics and distribution efficiency and access a stable workforce. While tenant demand has softened in certain areas since the peak, our strategic focus remains on well-located sites in high-potential markets. By concentrating on supply-constrained submarkets with compelling supply and demand dynamics, we are unlocking opportunities for Class A industrial space. Currently, we have four speculative industrial projects underway in three key markets that exemplify this targeted approach. Read more about them below:  

Innovate48 Industrial Park – Phoenix, AZ 

In collaboration with Alidade Capital, LLC, we recently celebrated the financial closing and beginning of construction on Innovate48 Industrial Park, a 163,000-square foot speculative industrial facility in Phoenix, AZ.  As manufacturing, logistics and semiconductor companies are looking to set up operations in Arizona, Innovate48 is poised to address this demand with a state-of-the-art solution. Located in a supply-constrained area, Innovate48 offers unmatched amenities tailored for users seeking Class-A industrial space. 

Key features include 25 dock high doors, a fully secured concrete truck court with 18 trailer parking stalls, LED lighting, approximately 3,500 square feet of office suite space and more. We are developing and building the project, and completion is set for Q2 2025.

Schrader Farms Business Park – Chandler, AZ 

In June, construction began on Schrader Farms Business Park, a speculative industrial facility that we are developing and building in Chandler, AZ. The park will be comprised of three industrial buildings totaling more than 432,000 square feet. Strategically located in the fast-growing East Valley, which the Maricopa Association of Governments predicts will welcome an influx of 400,000 new residents by 2050, Schrader Farms Business Park is perfectly positioned to meet the demands of manufacturing, logistics, and supply chain companies. Given its prominent location, this project will offer an ideal space solution for businesses seeking to capitalize on the region's growth. Completion is set for Q3 of 2025.  

Pullman Phase III – Chicago, IL   

Partnered with Washington Capital Management Inc., our team announced in July the financial land closing and groundbreaking of a 170,000-SF speculative industrial facility located at Pullman Crossings, a 50-acre industrial park located in Pullman Park. Pullman Park is a 180-acre mixed-use development being developed by Chicago Neighborhood Initiatives (CNI). This project marks the third of four phases of Pullman Crossings and will provide a new Class A industrial space to a supply-constrained market. It is expected to be completed by Q1 2025.  

Previously, we developed and built three industrial facilities at Pullman Crossings totaling 685,000 square feet including the Whole Foods Midwest Distribution Center, a SC Johnson warehouse and an Amazon last mile distribution center. This industrial park has created more than 600 jobs to date and has transformed what was previously one of the largest undeveloped sites in Chicago. 

Northwest Commerce Center – Broomfield, CO 

The Northwest Commerce Center, a joint venture with PGIM Real Estate, is set to bring premier industrial space to a land-constrained area conveniently located between Denver and Boulder.  We are developing and building this project, which consists of two state-of-the-art buildings totaling more than 343,000 square feet.  

Each building will feature 32’ clear heights, LED lighting, an ESFR sprinkler system and additional high-qualities amenities that suit a variety of business uses ranging from warehousing, manufacturing and more.  Positioned strategically in the rapidly growing submarket, the Northwest Commerce Center is set to meet the needs of innovative companies expanding into the area. Construction is expected to begin in August, and completion is set for Q2 2025. 

In a challenging market, our agility and strategic approach have set us apart. Leveraging our extensive local and national relationships, we have successfully sourced and acquired prime industrial sites that meet today’s demands. With boots on the ground across major markets and deep-rooted connections with brokers, municipalities, and users, our in-house expertise enables us to swiftly navigate complexities and craft innovative solutions. This ability to adapt and find value in any market conditions underlines our commitment to delivering exceptional industrial spaces that drive success for all stakeholders involved.