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**Panattoni Proposes Industrial Redevelopment in Tempe**
Panattoni Development Company (PDC) is seeking to change course on a previously approved multifamily residential project in Tempe, Arizona, proposing instead to develop a 448,000-square-foot warehouse facility.
The proposed redevelopment targets approximately 25 acres at the southwest corner of Priest Drive and Alameda Drive, within the Fountainhead Corporate Park. The site currently contains six vacant and outdated office buildings ranging from one to three stories in height, along with two parking garages. City officials have noted that the existing structures are considered obsolete.
Under the new proposal, Panattoni plans to demolish the current buildings and construct two new single-story industrial facilities. The buildings would reach up to 46 feet in height and include a combined total of 354,000 square feet of warehouse, industrial, and manufacturing space. An additional 88,000 square feet would be designated for office use. Building 1 is expected to encompass nearly 250,000 square feet, while Building 2 would span close to 200,000 square feet.
This redevelopment marks a significant shift from the site’s original plan, which called for a 566-unit multifamily housing project. With growing demand for industrial space in the region, Panattoni appears to be realigning the property’s use to better meet market needs.
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