Mack Real Estate Group (MREG) has announced the successful financing of the first phase of Mack Innovation Park Scottsdale. The project, located on a 124-acre infill site in North Scottsdale, will consist of two buildings totaling 305,400 square feet and is part of a larger development with a capacity for 1.2 million square feet across 11 buildings.
The $63 million debt financing was secured from Bank OZK and PGIM Real Estate. JLL Capital Markets facilitated the deal through their team led by Chris Peck, Brad Miner, Jason Carlos, Tyler Peck and Jarrod Howard.
The prime location offers easy access to Pima and Bell roads as well as the Loop 101 freeway. Leasing agents Mitch Stravitz (CBRE), Rusty Kennedy (CBRE), James Cohn (Stream Realty) and Randy Shell (Shell Commercial) are working to secure tenants for this highly sought-after space.
Leading construction firm Willmeng will serve as general contractor while Butler Design Group will provide architectural services for this state-of-the-art facility.
This significant milestone marks an exciting new chapter in MREG’s portfolio expansion efforts in Phoenix’s thriving commercial real estate market.
