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The partnership has acquired a 17.79-acre web site within the Mesa submarket with plans to construct 264,500 sq. ft and a complete of 14.20 acres within the Hall 101 submarket with plans to construct 221,700 sq. ft.
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Phoenix, AZ, Sept. 07, 2022 (GLOBE NEWSWIRE) — Nicola Wealth Actual Property (NWRE) has partnered with Hopewell Growth (Hopewell) to amass a 17.79-acre industrial growth web site within the North Mesa submarket adjoining to Falcon Subject Airport and a complete of 14.20 acres within the Hall 101 submarket of Peoria. The 2 tasks whole 32 acres with the power to develop as much as 486,200 sq. ft unfold over six buildings. These growth tasks are an additional enlargement of NWRE’s construct to carry industrial growth technique and partnership with Hopewell.
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The North Mesa mission is positioned instantly south of North Loop 202, which supplies environment friendly entry to Downtown Phoenix and Sky Harbor Airport to the west and Mesa Gateway Airport to the south. The area of interest North Mesa location will ship much-needed trendy multi-tenant industrial product for small to mid-bay customers. Mike Parker of CBRE brokered the off-market transaction and might be leasing the 264,500 sq. ft three-building mission, which has been branded Falcon202 Commerce Park. Hopewell is at present securing entitlements, with development anticipated to begin by early 2023.
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In Peoria, the partnership has acquired the remaining two infill websites in Empire Enterprise Park adjoining to Loop 101, able to accommodating 221,700 sq. ft in three buildings. The 101 Hall submarket is a extremely sought-after location with wonderful connectivity to the Phoenix MSA by means of speedy entry to Loop 101 and US Route 60. Brian Gleason and Bonnie Haley of Colliers Worldwide brokered the transaction and might be dealing with the leasing. The three class A buildings ranging in measurement from 65,000 – 93,000 sq. ft are below development and are able to accommodating single customers or a number of tenant demising plans.
“We proceed to see sturdy leasing demand and rental development inside our present Phoenix portfolio, reinforcing the necessity to ship trendy small to mid-bay multi-tenant industrial to those submarkets,” states Matthew Schaeffers, Director of Acquisitions at Nicola Wealth Actual Property.
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Justin LeMaster, VP of US Industrial at Hopewell, provides, “We’re thrilled to be engaged on these two new tasks with Nicola Wealth. Each of those infill tasks are positioned in areas with extraordinarily excessive boundaries to entry. Tenants have only a few choices for areas of this measurement vary if any. We look ahead to delivering these tasks to the market and persevering with our long-standing relationship with Nicola Wealth.”
NWRE is targeting rising in main US markets equivalent to Las Vegas, Phoenix, Denver, Dallas-Fort Value, San Francisco, Minneapolis and Seattle with a concentrate on buying income-producing properties and executing build-to-own growth and value-add methods.
To be taught extra in regards to the Nicola Wealth Actual Property funds, go to realestate.nicolawealth.com
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About Nicola Wealth Actual Property
Nicola Wealth Actual Property (NWRE) is the in-house actual property staff of Nicola Wealth, a premier Canadian monetary planning and funding agency with $12.3 billion (CAD) of property below administration (AUM). NWRE has an skilled and revolutionary staff that sources and asset-manages a rising portfolio of properties in main markets throughout North America spanning a diversified vary of asset lessons which embody industrial, multi-family rental house, workplace, self-storage, retail and seniors housing. The present NWRE portfolio now exceeds $8.5 billion gross asset worth.
About Hopewell Growth
Headquartered in Calgary with workplaces in Toronto, Winnipeg and Phoenix, Hopewell Growth LP (“Hopewell”) is the business growth division of the Hopewell Group of Firms. For nearly 30 years, companies of all sizes and in all industries have trusted Hopewell, one among North America’s main business builders, to ship clever and extremely customized actual property options.
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Hopewell is a extremely skilled full-service growth firm that manages each side of the event section in collaboration with its companions. Hopewell takes satisfaction in participating the suitable individuals to make sure all features of the event are aligned, together with planning, engineering, entitlement approvals, development administration, together with the profitable leasing of the mission. Upon completion of the event section, Hopewell additionally supplies administration of asset disposition or long-term Property and Asset administration providers for its companions.
Hopewell has developed over 25M SF of A category industrial product and at present has one other 18M SF of lively tasks in varied phases of growth. Hopewell has an in depth observe file in all features of business actual property growth and at present has lively tasks below growth in Calgary, Edmonton, Winnipeg, better Toronto space, Ottawa, Phoenix, Las Vegas and Dallas/Fort Value. Hopewell’s expertise and experience spans North America.
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