Developer Overton Moore Properties (OMP) and Invesco Real Estate have commenced construction on Nextwave Tempe, a new industrial project in northeast Tempe. The development will consist of three Class A buildings totaling 689,000 square feet on a 35.5-acre site that was previously home to the Big Surf Waterpark.
Leading commercial real estate firm CBRE’s John Werstler, Cooper Fratt, and Tanner Ferrandi are serving as the listing brokers for Nextwave Tempe on behalf of OMP and Invesco.
The three buildings can be divided into spaces ranging from 32,000 to 258,727 square feet and are expected to be completed by Q4 of 2025. Each building offers high-quality features such as ample parking space, heavy power capabilities with room for expansion, full HVAC systems in the warehouses, spec offices for customization options,and private truck yard areas with enhanced security measures.
Layton Construction is overseeing general contracting duties while HPA Architecture serves as the architect for this project. This exciting development was recently announced by Connect CRE , showcasing its potential impact on the local market.
