Project completion is expected by Q4 2025. Credit: Ryan Companies US.

Ryan Companies US has announced the financial closing and commencement of construction of the second phase of the 17 North Corporate Center in Phoenix, Arizona.

The complete project includes two Class A industrial buildings totalling more than 186,000ft², offering various on-site features and easy access to major freeways, residential areas, and the new Taiwan Semiconductor Manufacturing Company plant.

Ryan real estate development senior vice-president Josh Tracy said: “The Phoenix market continues to experience an influx of advanced technology and manufacturing companies, which makes this an ideal time to break ground on an industrial project in the sought-after Deer Valley submarket.

“This project’s strategic location in north Phoenix provides users with unmatched flexibility and convenience, providing a front seat to several impactful developments taking place in the area.”

The project is a collaborative effort between Ryan and Standard Real Estate Investments, with Bankers Trust providing construction financing.

The 17 North Corporate Center development is located next to Interstate 17 (I-17), offering access and visibility from the freeway.

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The project is also within walking distance of two popular shopping centres, giving tenants convenient retail and dining options, Ryan added.

Upon completion, each building will feature various amenities, including secure concrete truck courts, 32in clear heights, ample parking space, and more.

The centre’s location is surrounded by major corporate users such as TSMC, Amazon, FedEx, and Shock Therapy, providing future tenants with networking opportunities, enhanced supply chain efficiency, and access to a skilled local workforce, stated the company.

The project is expected to be completed by the fourth quarter (Q4) of 2025.

The first phase of the project consisted of a 111,000ft² Class A industrial building.

Greater Phoenix Economic Council president and CEO Chris Camacho said: “Commercial real estate leaders like Ryan Companies recognise the importance of top-of-the-line industrial space for companies exploring West Coast opportunities.

“This Class-A product developed in the key Deer Valley employment corridor will help companies access the talent and infrastructure needed to best support their growth plans in Greater Phoenix.”