SCOTTSDALE, AZ — Mack Real Estate Group’s (MREG) latest project will soon be rising in Scottsdale, Arizona, as general contractor Willmeng Construction begins vertical construction on the 305,400-square-foot first phase of Mack Innovation Park Scottsdale (MIP Scottsdale). The site as a whole accommodates 1.2 million square feet across 11 buildings on a site in North Scottsdale with access to Pima and Bell roads and the Loop 101 freeway.
“Our team has been deeply engaged with the local community and the City of Scottsdale to create a project that integrates well with its surroundings,” said Richard Mack, CEO of MREG. “We expect [it] will be an appealing addition to the city in this excellent location.”
The first phase of MIP Scottsdale consists of two buildings comprising 305,400 square feet and has secured construction financing, with Bank OZK providing $43 million of first mortgage construction debt and PGIM Real Estate providing $19.78 million of construction mezzanine financing. Lenga Partners, a Chilean-based real estate investment firm focused on industrial, multifamily, and mixed-use assets within the U.S. market, is Mack's equity joint venture partner in the project.
Butler Design Group’s design for Mack Innovation Park Scottsdale pays homage to the legacy of Frank Lloyd Wright and his Taliesin West, which is located just 5 miles away. The design is characterized by integration with the surrounding landscape, use of natural materials, and emphasis on horizontal lines. The site and landscaping, including washes and trees, are key elements in the design, reflecting Wright's philosophy of organic architecture. As modern industrial facilities, the buildings are to feature 32-foot clear heights, 53 dock-high doors, 20 grade-level doors, and 516 parking stalls.
“Mack Real Estate Group has an exciting role to play in development within the greater Phoenix market,” said James Murphy, CEO of Willmeng. “They have established a strong brand locally, and it’s an honor for our team to work on this project and help them bring their vision to life.”
