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Why a St. Louis developer chose Phoenix for 3 industrial projects

Friday, October 8, 2021   /   by Juan Grimaldo

Why a St. Louis developer chose Phoenix for 3 industrial projects

A Missouri-based developer is making its entrance into the Phoenix metro industrial market in a big way with three new projects totaling approximately $400 million — and plans to build more.

St. Louis-based US Capital Development, which started in 1994, just broke ground on phase one of its first project, called Falcon Park 303 in Glendale, and has two more planned for Buckeye and Chandler. 

Between the projects, US Capital Development will build about 3 million square feet in the next year and expand to 4 million square feet once all phases are built. In the next three months, the company said it's starting eight buildings between the three developments. 

At full buildout, the projects will total $400 million, which the company said it plans to finance through bank financing and equity provided internally and with investment partners.

A variety of developers have recently built or proposed large industrial projects in Glendale, mostly along Loop 303 and nearby Luke Air Force Base. Other West Valley cities have seen significant industrial development and have some massive projects planned, including Goodyear and Buckeye.

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By Audre Jensen, Reporter - Phoenix Business Journal

The Grimaldo Group
Juan Grimaldo
2403 N Pebble Creek Pkwy #101
Goodyear, AZ 85395

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