First piece of Greystar’s Peoria Place breaks ground

Peoria Place, an 88-acre mixed-use project to be located in Downtown Peoria, recently broke ground on its first phase. (JLL/Submitted)

Greystar Real Estate Partners recently joined with the Phoenix Office of JLL, local project partners and dignitaries to break ground on Caliber by Greystar.

The three-building, Class A industrial park is the first element to break ground at Greystar's Peoria Place, a $500 million mixed-use master plan designed to revitalize the central historic downtown infill land site in Peoria.

"Peoria is a fast-growing, innovative city that is committed to supporting all business through development with a streamlined permitting process and leadership that is not only pro business but moves at the speed and efficiency of business," Peoria Vice Mayor Denette Dunn said.

"We welcome businesses like Greystar and projects like Peoria Place and Caliber industrial park, as we work together to realize Peoria's full potential."

Caliber is located along the U.S. 60, at the southwest corner of 79th and Grand avenues. It is part of the 88-acre Peoria Place, which is slated to include luxury apartments, build-to-rent single family homes, residential over retail, 20 acres of open space and the Caliber light industrial park.

At build-out, Caliber will total 411,918 square feet of Class A product broken down as a 114,446-square-foot Building A, 122,863-square-foot Building B and 174,609-square-foot Building C, with buildings A and B offering divisibility to serve a diversity of uses and tenant sizes.

"Caliber is an exciting start to Greystar's vision for Peoria Place, creating close-to-home employment opportunities and offering valuable advantages for logistics users such as direct access to U.S. 60, a community of nearby warehouse and logistics companies, and move-in-ready office buildouts," JLL Managing Director John Lydon said.

"The office build-outs, in particular, will resonate well with companies looking for speed-to-market options that get them quickly up and running in Phoenix."

All buildings at Caliber will feature 32-foot clear height, modern 50-foot-by-52-foot column spacing, energy-efficient LED lighting and ESFR sprinklers. Building A will be served by a 137-foot truck court. Buildings B and C will share a 190-foot truck court.

Together, the park will offer 99 dock doors and six drive-in doors, as well as parking for 554 cars. Each building is also being built with a move-in-ready office build-out of up to 2,000 square feet.

An enclosed conduit raceway infrastructure at each building will offer tenants at Caliber the opportunity to double their power capacity from 3,000 to 6,000 amps, allowing for expanded capabilities and value-add improvements such as roof-mounted solar systems and EV charging stations.

Caliber's build is slated to finish in the second quarter of 2024. Greystar's first residential projects at Peoria Place are expected to break ground this summer, with additional development to follow.

"Greystar is proud to break ground on Caliber, the Class A industrial component of the Peoria Place master plan," Greystar Managing Director Billy Cundiff said. "Peoria Place is a unique opportunity to activate Peoria's Downtown with high-quality residential and employment options.

"The immediate access to major arterials, an educated workforce and high population growth has created an ideal location for manufacturing and logistics companies expanding their operations. It has been a pleasure working with the city of Peoria, and we look forward to delivering this successful project."

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