Creation and Clarion Partners have recently acquired nearly 100 acres of land in Phoenix for the development of a $250 million industrial and mixed-use project, known as Park Algodon. The off-market transaction was facilitated by Greg Vogel and Max Xander of Land Advisors, who represented both the buyer and seller – the John F. Long family.
Park Algodon is a two-phase speculative industrial development spanning over 86 acres with an estimated total area of 1.3 million square feet. Construction on the first phase, which includes four buildings totaling to approximately 670,000 square feet, is expected to commence by end-of-year under LGE Design Build’s supervision with completion slated for late-2025.
In addition to this joint venture project, Creation will also be developing The Shops at Park Algodon on an adjacent seven-acre parcel that will feature over 14,000 square feet of restaurant and retail space along with four pads designated for further restaurant developments.
