Creation and Clarion Partners have broken ground on Park Algodon, a $250 million industrial and mixed-use development in Phoenix. The project is located on the northwest corner of Loop 101 and Indian School Road, spanning 87 acres with a total of approximately 1.3 million square feet at full build-out.
The first phase will feature four buildings totaling 766,000 square feet while the second phase will consist of one building measuring at 556,000 square feet. LGE Design Build is leading the architecture and construction for this speculative development with an expected completion date in the third quarter of 2025.
Leasing for Park Algodon is being handled by Mike Haenel, Andy Markham, and Phil Haenel from Cushman & Wakefield. In addition to this joint venture project, Creation also has plans for The Shops at Park Algodon which includes over seven acres dedicated to restaurant and retail space as well as four pads designated for future restaurant developments.
Matt Milinovich and James DeCremer from Avison Young are responsible for leasing opportunities within The Shops at Park Algodon. This highly anticipated project showcases Creation’s expertise in developing large-scale industrial projects alongside vibrant retail spaces that cater to both businesses’ needs as well as local communities’ desires.
