Kitchell looks to develop massive industrial complex south of Sky Harbor

 

 

 

 

 

 

 

 

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Mike Sunnucks Senior Reporter- Phoenix Business Journal

Jul 30, 2014, 4:31pm MST UPDATED: Jul 31, 2014, 7:34am MST

Kitchell Development Co. has acquired 20 acres south of Phoenix Sky Harbor International Airport near Interstate 10 for a 290,000-square-foot industrial complex.

Phoenix-based Kitchell and Scottsdale-based Aspen Group are partnering on the venture, which entailed acquiring land and development rights to three parcels near Ellwood and 28th Streets in Phoenix.

Kitchell is looking to construct two buildings that could total between 250,000 and 290,000 square feet. The industrial commercial real estate market is faring better than the office segment in the post-recession economy. Some new industrial developments also are in the works in north Phoenix, Chandler and Goodyear.

“We’re bullish on the local industrial market and believe metro Phoenix will remain a viable distribution alternative to the coastal markets,” said Ryan Cochran, Kitchell’s senior director of development.

Mike Sunnucks writes about politics, law, airlines, sports business and the economy.

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