Thompson Thrift Hosts Groundbreaking on First Phase of 75-Acre Mixed-Use Industrial Development in Mesa's Elliot Road Technology Corridor

MESA, Ariz., Oct. 11, 2022 /PRNewswire/ -- Thompson Thrift, a full-service nationally recognized real estate company, hosted a groundbreaking today for the first phase of Elliot Tech Center, a 1 million-square-foot, mixed-use industrial and retail project within Mesa's Elliot Road Technology Corridor.

"While today's ceremony marks the official start of construction, we would be remiss if we didn't acknowledge the tremendous effort of the City and our various stakeholders that brought us to this point," said Ashlee Boyd, managing partner for Thompson Thrift Commercial. "We are thrilled to be underway on a development that will further enhance the options for companies seeking to start or expand their operations in Mesa."

Elliot Tech Center is located at the northwest corner of Elliot Road and Signal Butte Road, which is just northeast of Phoenix-Mesa Gateway Airport with direct access to both SR 24 and Loop 202. The new development will be directly north of Apple's Global Command Center and east of the Meta Mesa Data Center, currently under construction, and the forthcoming Google Data Center.

The first 25-acre phase is expected to be completed by fall 2023 and will include five retail pads and three industrial buildings ranging from approximately 79,000 to 89,000 square feet. The industrial buildings feature secure truck courts, a variety of bay sizes, and clear heights from 28 to 32 feet. Black Rock Coffee Bar and a convenience store have already committed to two of the retail pads, and lease negotiations are underway with a well-regarded local restaurant for a 4,000-square-foot, sit-down restaurant.

"The Gateway area continues to expand as an important economic driver for the East Valley," said Mesa Mayor John Giles. "Elliot Tech Center is a welcome addition that will bring critical industrial space for aerospace/aviation, electric vehicles, semiconductors and high-tech manufacturing companies that continue to choose Mesa as a place to locate."

Thompson Thrift also has plans for the remaining 50 acres at the Elliot Tech Center to provide an additional five buildings and more than 620,000 square feet. Construction on the second phase is expected to commence in the first quarter of 2023.

Lee & Associates' Ken McQueen and Chris McClurg are the listing brokers for the Elliot Tech Center's industrial buildings while Phoenix Commercial Advisors is marketing the retail component. Butler Design Group designed the first and second phases and Thompson Thrift has contracted with national design-builder Clayco as the general contractor for the first phase.

"We are excited to partner with Thompson Thrift on this exciting mixed-use development," said Todd Peters, vice president, industrial from Clayco. "Elliot Tech Center will bring significant industrial and retail flexibility to Mesa's new Elliot Road Technology Corridor, and we are thrilled to be working with the City and our partners to make this happen."

Mesa has proven itself to be a preeminent location for high-tech manufacturers and data centers, attracting large corporations like Niagara Bottling, EdgeCore, Boeing, Esurance and Bridgestone, as well as global tenants such as Apple, Google, Meta, Amazon and more.

Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. The company is well-established in Arizona with several properties throughout the state, including projects in Glendale, Phoenix, Tempe, Mesa, Queen Creek, Tucson, Surprise, Avondale, and Peoria. The company has become known as a trusted partner committed to developing high-quality, attractive projects and is uniquely positioned to provide smart warehouse, logistics and manufacturing solutions in select markets across the country.

About Thompson Thrift Real Estate Company
Thompson Thrift is an integrated full-service real estate company with offices in Indianapolis and Terre Haute, Indiana; Denver, Houston and Phoenix. Three business units drive Thompson Thrift's success—Thompson Thrift Residential which is focused on upscale Class A multifamily communities and luxury leased homes, Thompson Thrift Commercial which is focused on ground-up commercial development, and Thompson Thrift Construction, a full-service construction company. Through these business units, Thompson Thrift is engaged in all aspects of acquisition, development, construction, leasing, and management of quality multifamily, mixed-use, retail, industrial and commercial projects across the country. We are passionate about our customer's success and strive to ensure our projects not only meet the needs of our customers but also the communities we serve. For more information, please visit www.thompsonthrift.com

About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely and sustainably delivers the highest quality solutions to clients across North America on time, on budget, and above and beyond expectations. With $4.9 billion in revenue for 2021, Clayco specializes in the "art and science of building," providing fast-track, efficient solutions for industrial, commercial, institutional, and residential-related building projects. For more information, visit www.claycorp.com.

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SOURCE Thompson Thrift