Tempe is set to get a new industrial face-lift as Creation Equity gears up to transform a 16-acre plot, previously housing the University of Phoenix's call center, into the Nexus Commerce Center, a three-building industrial park. According to a statement obtained by the Phoenix Business Journal, the development near Interstate 10 aims to address the high demand for industrial space in the coveted I-10 corridor, offering units ranging from 15,000 to 100,000 square feet.

With an investment of nearly $59 million, Creation Equity principal Grant Kingdon emphasized that Nexus Commerce Center will supply the much-needed shallow-bay inventory in a strategic response to sustained demand, although they expect to kickstart site work come October, the current landowner, Amherst, will still play a pivotal role in the project despite ongoing negotiations for land acquisition and permit preparations, this was according to information from an ABC15 report.

The project cruised through Tempe's Development Review Commission last fall, scooping up a 7-0 approval vote, clearing the way for what's touted as a magnet for a diverse mix of industry tenants by Kingdon in a Phoenix Business Journal interview, the Nexus Commerce Center sits opposite the Groves Power Center shopping mall and is slated to become a major development within the growing Phoenix metro area industrials; Tempe’s infill sites are known for their high barrier to entry, and I-10 adjacent properties are particularly hard to come by, which only adds to the center’s anticipated cachet.

Phoenix metro's industrial vacancy rates stand at 7.4%, with a lower 3.8% in the specific Airport area submarket where Nexus is set to rise. Phoenix's warehouse space market is tightening, which could very well mean that Nexus Commerce Center arrives not a moment too soon to serve the pressing needs of the business community.