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Creation has completed construction of Park Algodon, a $250 million industrial and mixed-use project located at the northwest corner of Loop 101 and Indian School Road in Phoenix. The development spans roughly 86 acres and combines large-scale industrial facilities with a smaller-format retail and restaurant component positioned as a neighborhood-serving destination.
At full build-out, Park Algodon delivers approximately 1.3 million square feet of Class A industrial space. The industrial segment was conceived as a two-phase speculative development to serve a wide range of logistics and industrial users. The first phase, developed in partnership with Clarion Partners, consists of four buildings totaling 725,000 square feet. These buildings are configured to accommodate tenants as small as 30,000 square feet and as large as 317,000 square feet, allowing for both multi-tenant and larger single-tenant occupancies.
The second phase of the industrial component has received permit approval for a single 556,000-square-foot building. This phase is designed to complement the initial four-building cluster, adding contiguous large-block space for users seeking scale in the Phoenix industrial corridor. Together, the two phases create a modern logistics hub at a freeway-adjacent location, with direct access to Loop 101 supporting regional distribution and local service operations.
Separate from the joint venture with Clarion Partners, Creation also developed The Shops at Park Algodon, a mixed-use element positioned adjacent to the industrial buildings. This retail and restaurant component comprises more than 14,000 square feet and is intended to provide on-site amenities for park tenants as well as surrounding neighborhoods. Buildings A and B within The Shops are scheduled for turnover to tenants within the next 30 days, with several openings expected to occur later in the year as interior build-outs are completed.
Architecture and construction responsibilities for Park Algodon were led by LGE Design Build, which oversaw both the industrial and mixed-use components of the project. On the leasing side, industrial space at Park Algodon is being marketed by Cushman & Wakefield, with a team led by Andy Markham and Phil Haenel. The retail and mixed-use space at The Shops is being leased by Avison Young, represented by Matt Milinovich and James DeCremer, who are focused on bringing a mix of restaurant and service-oriented tenants to the project.
With construction now finished and leasing underway across both the industrial and retail components, Park Algodon adds a significant block of new, Class A inventory to Phoenix’s Loop 101 corridor, combining large-format industrial capacity with a modest but targeted on-site retail offering.
The post Creation, Clarion Complete $250M Park Algodon Mixed-Use Development in Phoenix appeared first on CRE Market Beat.
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