Plans are in the early stage for the building of a massive industrial development in a designated Opportunity Zone some 20 miles to the southeast of Mesa.
The Indianapolis-based company Scannell Properties has purchased nearly 170 acres in the southern Arizona city, at a site located on the southwest corner of E.Warner Road and S. Ellsworth Road.
The company purchased the land for $36 million.
According to reports, the site is being looked at for its Class A industrial development potential, although specific details have not yet been announced.
A privately owned real estate development and investment company, Scannell specializes in speculative development and build-to-suit projects. Its portfolio contains nearly 85 million square feet of development nationally.
The company has historically had a focus on the states of the Midwest and East Coast, but has also developed properties in Arizona, Colorado, and New Mexico.
Scannell is also currently in the process of developing some 240 acres near the Loop 202 South Mountain freeway in southwest Phoenix. That site, too, will see the building of Class A industrial space.
By Garry Boulard