A groundbreaking and wall tilting ceremony was held this afternoon for Landing 202. Developed by Marwest Enterprises, this 605,000-square-foot Class A industrial product is being built on approximately 45 acres just south of Loop 202 and west of Hawes Road on the north side of Ray Road in Mesa's Gateway Area.
"Congratulations to Marwest Enterprises on the announcement of Landing 202. These brand-new buildings are in the heart of the Gateway area and close to multiple freeways. An awesome location for a wide range of businesses," Mayor John Giles said. "It's exciting to watch southeast Mesa maintain its momentum as a thriving economic engine for the entire city."
The development is zoned light-industrial and will be a multi-phase project. The first phase will include two buildings with building 1A being 486,000 square feet and Building 1B 119,000 square feet for a total of 604,270 square feet. Phase one parking will include approximately 565 spaces. Construction has already started and will be completed in the second quarter 2020. Once built, Landing 202 will be visible from Loop 202 with freeway access from the Power Road and Hawes Road exits.
"Ray Road has been a hotbed for development over the past several years," District 6 Councilmember Kevin Thompson said. "Landing 202 will provide even more Class A industrial space for businesses looking to relocate or expand to the Gateway Area, which has become an employment corridor for the region."
The new industrial development sits just north of the Phoenix-Mesa Gateway Airport and within one of Mesa's newly announced, federally designated opportunity zones. Opportunity zones allow investors to defer and potentially reduce taxes on capital gains, so long as the gain is reinvested in a qualified opportunity fund that invests in a qualified opportunity zone.
David Martens, Principal of Marwest Enterprises, LLC said, "Marwest is thrilled with the continued and increasing demand for tenants to reside and grow their businesses in Mesa, Arizona. We hope to fulfill the common theme of need for larger and more functional space that reflects modern standards."
"CBRE is privileged to partner with Marwest Enterprises LLC, in bringing the first Industrial "Big Box" project to the Southeast Valley, in Mesa, Arizona," Pete Wentis of CBRE said. "CBRE is excited to represent Marwest on the leasing aspect of this new project."
"We are pleased to continue our vision to provide companies an exceptional place to do business in Southeast Mesa," Landing 202 Project Manager, Jeff Arnold of Cedar Point Builders, LLC, said.
To discuss leasing or investment opportunities, contact Pete Wentis of CBRE at 602-735-5591.
For more information regarding Mesa's Opportunity Zones, visit www.SelectMesa.com/OpportunityZones.
Office of Economic Development
Contact: Kim Lofgreen