Thompson Thrift Acquires Additional 48 Acres for the Second Phase of an Industrial Development in Mesa
September 15, 2022
Mesa, AZ
Thompson Thrift, a full-service nationally recognized real estate company, announced today the acquisition of a 48.5-acre parcel that will be used for the second phase of Elliot Tech Center, a mixed-use industrial and retail project currently under construction within Mesa’s Elliot Road Technology Corridor.
"We are thrilled to be able to add a second phase of our newest mixed-use project in Mesa’s highly-acclaimed tech corridor,” said Ashlee Boyd, managing partner for Thompson Thrift Commercial. “Once completed, the Elliot Tech Center will provide nearly 1 million square feet of industrial and retail space. With high demand from global corporations, we expect this to be one of the strongest industrial markets in Phoenix for the foreseeable future."
Thompson Thrift acquired 25.5 acres at the northwest corner of Elliot Road and Signal Butte Road in 2021. The company recently began construction on three industrial buildings as well as five retail pads, that will provide 255,000 square feet of space tailored towards manufacturing and technology users. The company expects construction on the first phase to be complete in fall of 2023.
The latest acquisition will allow Thompson Thrift to build an additional five industrial buildings, three of which the company expects will be build-to-suits.
Chris Hake, senior vice president, director of the Southwest region of Thompson Thrift added, “We are excited to add to our land position in the corridor. Now that we have control of nearly 75 contiguous acres, our multi-disciplinary team can work with various industrial and retail users who continue to migrate to Mesa’s growing technology corridor.”
The Elliot Tech Center is adjacent to Apple’s $2 billion global command center and down the road from Facebook’s 390-acre data center site in one of the premier industrial development areas in the southwestern United States. Mesa has proven itself to be a preeminent location for high-tech manufacturers and data centers, attracting large corporations like Niagara Bottling, EdgeCore, Boeing, Esurance and Bridgestone, as well as global tenants such as Apple, Google, Facebook, Amazon and more.
