Thompson Thrift Acquires Additional 48 Acres for the Second Phase of an Industrial Development in Mesa

Development plans include spec and build-to-suit industrial space

MESA, Ariz., Sept. 15, 2022 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, announced today the acquisition of a 48.5-acre parcel that will be used for the second phase of Elliot Tech Center, a mixed-use industrial and retail project currently under construction within Mesa's Elliot Road Technology Corridor.

"We are thrilled to be able to add a second phase of our newest mixed-use project in Mesa's highly-acclaimed tech corridor," said Ashlee Boyd, managing partner for Thompson Thrift Commercial. "Once completed, the Elliot Tech Center will provide nearly 1 million square feet of industrial and retail space. With high demand from global corporations, we expect this to be one of the strongest industrial markets in Phoenix for the foreseeable future."

Thompson Thrift acquired 25.5 acres at the northwest corner of Elliot Road and Signal Butte Road in 2021. The company recently began construction on three industrial buildings as well as five retail pads, that will provide 255,000 square feet of space tailored towards manufacturing and technology users. The company expects construction on the first phase to be complete in fall of 2023.

The latest acquisition will allow Thompson Thrift to build an additional five industrial buildings, three of which the company expects will be build-to-suits.

Chris Hake, senior vice president, director of the Southwest region of Thompson Thrift added, "We are excited to add to our land position in the corridor. Now that we have control of nearly 75 contiguous acres, our multi-disciplinary team can work with various industrial and retail users who continue to migrate to Mesa's growing technology corridor."

The Elliot Tech Center is adjacent to Apple's $2 billion global command center and down the road from Facebook's 390-acre data center site in one of the premier industrial development areas in the southwestern United States. Mesa has proven itself to be a preeminent location for high-tech manufacturers and data centers, attracting large corporations like Niagara Bottling, EdgeCore, Boeing, Esurance and Bridgestone, as well as global tenants such as Apple, Google, Facebook, Amazon and more.

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. The company is well-established in Arizona with several properties throughout the state, including projects in Glendale, Phoenix, Tempe, Mesa, Queen Creek, Tucson, Surprise, Avondale, and Peoria. The company has become known as a trusted partner committed to developing high-quality, attractive projects and is uniquely positioned to provide smart warehouse, logistics and manufacturing solutions in select markets across the country.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, 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, industrial and commercial 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

Contact: 
Jennifer Franklin
Spotlight Marketing Communications
949.427.1385
[email protected]

SOURCE Thompson Thrift