Seefried Properties and MDH Partners Secure 5-Acre Site in Gilbert, Arizona; Plans Call for Development of 59k SF Industrial Facility

PRESS RELEASE

GILBERT, Ariz - August 7, 2024 - Seefried Properties, with development partner MDH Partners, has acquired a 5.1-acre site in Gilbert, Arizona, with plans to develop Fiesta Tech Center, a state-of-the-art industrial facility spanning 59,723 square feet. Construction is scheduled to commence in the third quarter of 2024, with delivery expected in the second quarter of 2025.

Fiesta Tech Center, located at 1352 N Fiesta Boulevard, is strategically positioned in Gilbert's established in-fill submarket, approximately ¾ mile from the US60 at the Country Club Drive (SR87) interchange. It is surrounded by a diverse industrial landscape that includes manufacturing, storage, warehouse, and distribution facilities. With its close proximity to major transportation routes such as I-10, I-17, State Route 51, and the recently completed 202 South Mountain Loop, Fiesta Tech Center provides seamless connectivity throughout the Phoenix metro area.

The facility is structured to address the dynamic requirements of modern general and light industrial users and will feature a 28-foot clear height, 19 dock-high doors, 4 grade-level doors, and 78 parking stalls within a secure fenced site. Designed for maximum flexibility, the new facility can accommodate tenants with space requirements ranging from 14,930 square feet to 59,723 square feet.

"This opportunity reflects our current strategy of finding light industrial, infill developments that will allow us to fulfill the increasing tenant demand for well located, functional product,"" said Jason Quintel, Senior Vice President of Seefried Properties. "Thank you to Phil Haenel of Cushman & Wakefield and Mike Parker of CBRE for bringing us this opportunity and we look forward to developing a successful project with our partner, MDH Partners."

Mike Parker of CBRE will oversee leasing and marketing efforts for the property. The project architect is DLR Group, the civil engineer is Cole Engineering, and Alcorn Construction is serving as the general contractor.

About Seefried Industrial Properties
Founded in 1984 by Ferdinand Seefried, Seefried Industrial Properties is as a privately held real estate company specializing in the development, leasing, and management of industrial properties across the United States. The company primarily focuses on development in core industrial markets and build-to-suits with tenants in core and second-tier markets. Seefried currently leases and manages approximately 25 million square feet on behalf of its institutional and European clients and has developed more than 220 million square feet of industrial space representing over $23 billion in total development cost. Headquartered in Atlanta, Seefried Properties extends its operational presence through regional offices strategically located in Dallas, Chicago, Los Angeles, and Phoenix. For more information, please visit www.seefriedproperties.com.