New division has 1.4 million square feet of Phoenix-area projects slated to break ground this year
INDIANAPOLIS, June 13, 2022 /PRNewswire/ — Thompson Thrift Commercial, a wholly-owned company of Indianapolis-based Thompson Thrift, announced today the diversification of their commercial group to include an industrial sector. The company has promoted Chris Alexander to senior vice president of industrial development to lead its industrial development initiative.
“We are excited to add industrial to our development platform, which is a natural diversification into a product type that will add significant growth opportunities for our business unit and company,” said Ashlee Boyd, managing partner for Thompson Thrift Commercial. “I look forward to working with Chris and our team to develop and implement a strategy to grow our industrial platform to serve the increasing demand for industrial space throughout our targeted markets.”
Alexander has been with Thompson Thrift Residential since 2018 and most recently served as the vice president of development for the Midwest region. However, during his 20-year career he has served in several leadership roles in private and public industrial development firms where he has focused on speculative and build-to-suit projects.
“Estimates are that the U.S. may need more than 1 billion square feet of additional industrial space by 2025 in order to support the fast-growing e-commerce demand,” said Alexander. “I am honored that the company has provided me with the opportunity to bring Thompson Thrift Commercial to greater heights while helping to meet the nation’s unparalleled demand for warehouses, distribution sites and fulfillment centers.”
The company recently announced plans to break ground on two Phoenix-area industrial projects. Phase I of Elliott Tech Center, is a 25.5-acre parcel at the northwest corner of Elliot Road and Signal Butte Road in Mesa, Arizona. The company plans to build three single-story industrial buildings tailored towards manufacturing and tech users offering a total of 255,000 square feet of space as well as five retail pads. Phase II is scheduled to break ground in 2023 and will consist of five buildings totaling approximately 750,000 square feet. The project is uniquely positioned at the eastern entrance to the Elliot Road Tech corridor which has quickly become one of the premier industrial development areas in the southwestern United States attracting global tenants such as Apple, Google, Facebook, Amazon and many others.
The second industrial project is a two-phase development on 68 acres at the southwest corner of Germann Road and Meridian Road in Queen Creek, Arizona. Construction plans for phase I feature approximately 400,000 square feet of new manufacturing, warehousing and distribution space between five stand-alone buildings. Upon project completion, Thompson Thrift expects to have just under 1.1 million square feet of space between 13 buildings ranging from 62,000 to 110,000 square feet each.
Thomson Thrift Development earned its reputation as a top retail and multifamily developer with more than $3.7 billion of ground-up projects completed across the Midwest, Southeast and Southwest during the past 30 years. 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, 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
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SOURCE Thompson Thrift