Graycor Begins Three Fully Speculative Industrial Buildings at Gilbert Spectrum

PHOENIX, ARIZONA, November 18, 2021 – Quickly following its completion of Gilbert Spectrum Building 5 – built for global aerospace and defense technology company Northrop Grumman – developers GID and SunCap Property Group, along with Graycor Construction Company, joined with local dignitaries and project stakeholders to break ground yesterday on the park’s next major stage of development: three brand new, fully speculative industrial buildings.

Buildings 9, 10 and 11 will add 309,547 square feet of Class A industrial space to Gilbert Spectrum. The 64-acre industrial park is being developed by SunCap at McQueen and Elliot roads in Gilbert, Arizona, a high-tech, high-end suburb in metro Phoenix’s Southeast Valley.

“We are pleased to see the continued growth of the Gilbert Spectrum development,” said Gilbert Mayor Brigette Peterson. “This project provides a strategic location for industrial users and I look forward to welcoming future businesses to this incredible master-planned development.”

“Gilbert Spectrum’s combination of quality and scalability will keep it highly relevant in an industrial market that continues to rapidly expand and evolve,” said Mike Orr, senior vice president with SunCap Property Group. “These new buildings continue our strategy to deliver smart, flexible space that can serve large-scale global users as easily as it serves modern, mid-size tenants.”

At build-out, the park will include up to 850,000 square feet of office, flex industrial and technology-related space. The three new speculative industrial buildings will range in size from 66,446 to 142,200 square feet, with divisibility to 20,000 square feet. Ken McQueen and Chris McClurg of Lee & Associates Arizona are the project’s leasing brokers.

“Gilbert Spectrum is a great infill development that offers a variety of functional attributes for traditional industrial users,” said McQueen, principal with Lee & Associates Arizona. “With multiple points of ingress and egress, and centered between three freeways, the park offers an attractive corporate setting with proximity to skilled labor.”

Building 9 will total 100,000 square feet with 32’ clear height and a mix of 38 dock high and drive in doors. Building 10 will total 142,200 square feet, also with 32’ clear height and a mix of 50 dock high and drive in doors. Building 11 will total 66,400 square feet with 28’ clear height and a mix of 25 dock high and drive in doors.

“The varied sizes and clear heights of these buildings provide valuable options for companies looking to relocate or expand in Phoenix’s Southeast Valley,” said Rusty Martin, Graycor Construction Company Operations Manager of the Southwest Division. “We are proud to have completed all of the Gilbert Spectrum buildings to date for SunCap, and look forward to completing these new buildings at a time when the area’s industrial submarket is really hitting its stride.”

The new Gilbert Spectrum buildings will share a 190’ loading court and each will feature generous power and ESFR sprinklers. The master planned park is minutes from Interstate 10, the Loop 101 and the U.S. 60. It is 25 minutes from downtown Phoenix and almost equidistant from Sky Harbor International Airport and Phoenix-Mesa Gateway Airport, both located within approximately 20 minutes. Gilbert Spectrum is within a 30-minute commute of approximately 1 million skilled laborers.

Construction on Buildings 9, 10 and 11 is underway now, with completion expected in May 2022. Graycor serves as the design-build general contractor. Balmer Architectural Group is the project architect.

In addition to its existing and under-construction buildings, Gilbert Spectrum has two pads available for build-to-suit industrial development.

About Graycor Construction Company Inc.
Graycor Construction Company Inc. is a leader in managing building construction and interiors projects throughout North America. In Arizona, Graycor combines more than 30 years of local subcontractor and partner relationships with the company’s 100 years of national experience in the cold storage, corporate, cultural/educational, food processing, living and lodging, logistics and distribution, manufacturing and retail markets. The combination maximizes Graycor’s national presence to bring Arizona clients optimal service and product delivery. For more information, visit www.graycorconstruction.com.

About SunCap Property Group
SunCap Property Group ("SunCap") is a privately held, national commercial real estate development, investment, and advisory firm. SunCap specializes in the development of single tenant, build-to-suit and mixed-use projects across North America. Other core services include providing corporate real estate advisory services for our clients and acquisition of institutional-grade real estate in key markets. SunCap has successfully completed over $4 billion in build-to-suit projects for its clients. SunCap is based in Charlotte, NC and has offices in Denver, CO, Charleston, SC and Pittsburgh, PA. For more information, visit www.suncappg.com.

About Lee & Associates
Lee & Associates specializes in providing exceptional brokerage services to the industrial, office, retail, multifamily, investment and land sectors of the Phoenix, Arizona commercial real estate market. The Phoenix office was established in 1991 and is now recognized as one of the most successful brokerage firms in Arizona. Every principal broker is an owner of the Phoenix office, which means each broker is personally driven to support the success of the company by delivering excellent results for their clients. Each of the North American offices, along with our European partnership with London-based Gerald Eve, has a strong local ownership combined with a powerful international platform from the Lee & Associates network. Visit www.leearizona.com to learn more.
###