Thompson Thrift Breaks Ground on First Phase of 1 Million-Square-Foot Industrial Development Near Phoenix

PHOENIX, Jan. 26, 2023 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today that it has started construction on the first phase of the 1-million-square-foot Germann Commerce Center in Queen Creek, a thriving suburb southeast of Phoenix.

"Queen Creek is one of the fastest-growing cities in Arizona and has emerged as a preeminent industrial submarket," said Ashlee Boyd, managing partner for Thompson Thrift Commercial. "We value the relationship our company has established with the city of Queen Creek over the years, and we are excited to bring another great project to this dynamic community. With strong demand from industries such as electric vehicle manufacturing, distribution, aerospace and defense, and pharmaceutical users we expect that the Germann Commerce Center will be a welcome addition to this dynamic region."

Located on the southwest corner of Germann and Meridian Roads, the first phase of Germann Commerce Center will consist of approximately 400,000 square feet of speculative light industrial space in five standalone buildings spread across approximately 26 acres. The buildings will offer front-park/rear-load industrial, with clear heights from 28 to 32 feet and frontage on East Germann Road.

With easy access to the Phoenix-Mesa Gateway airport, Loop 202 and State Road 24, the development is well-positioned to take advantage of the many benefits of the area, including its skilled workforce, strong industrial demand and close proximity to residential housing.

"We are very pleased to break ground on the first phase of the Germann Commerce Center," said Chris Alexander, senior vice president of industrial development. "With global brands like Google, Apple, Amazon, Meta, and LG basing operations in the Southeast Valley, Queen Creek is emerging as the next high-tech manufacturing and distribution location in the Valley due to its convenient access to SR 24 and a talented labor pool."

Alexander continued, "When you combine a competitive Arizona corporate income tax rate, reliable electric service, strong regional higher education institutions, and an established advanced manufacturing employer base, Queen Creek is an attractive solution for industrial users looking for the infrastructure to support their growth plans."  

The Germann Commerce Center is a multi-phase industrial development project for Thompson Thrift. At full buildout, the project can provide up to 1 million square feet of warehouse, distribution, light assembly and manufacturing space, covering approximately 68 acres. Thompson Thrift expects the first phase to be complete in the first quarter of 2024 with build-to-suit and for-sale options in phase two available immediately.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $4 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

Thompson Thrift is well-established throughout Arizona with more than 20 retail, multifamily and industrial projects in development, with an estimated volume of more than $1.5 billion. This is their second industrial development currently underway in Phoenix's Southeast Valley.

About Thompson Thrift Real Estate Company

Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Houston and Phoenix. Three service pillars drive Thompson Thrift's success—Thompson Thrift Retail Group which is focused on ground-up commercial development, Watermark Residential which is focused on upscale apartment home communities and luxury leased homes and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail and office projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com. 

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Jennifer Franklin                                 
Spotlight Marketing Communications
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SOURCE Thompson Thrift