Phoenix, Arizona, December 29, 2025
The Deer Valley area in North Phoenix has gained significant private investment with Westcore Properties purchasing three buildings at Mack Innovation Park for $90.7 million. This sale emphasizes the region’s emergence as an industrial hub, highlighting its strategic growth and investor confidence. Mack Innovation Park features modern facilities and excellent connectivity, attracting businesses, particularly in the semiconductor industry, as demand for industrial space increases.
Phoenix, Arizona
North Phoenix Industrial Park Secures $90.7 Million Sale as Deer Valley Emerges as Economic Hub
The burgeoning Deer Valley area in North Phoenix has recently attracted a significant private investment, underscoring its escalating role as a center for industrial activity and economic expansion. This substantial acquisition highlights the confidence investors have in Phoenix’s strategic growth, particularly in areas fostering business innovation and job creation.
The sale of a North Phoenix industrial park for $90.7 million demonstrates a robust market where entrepreneurial spirit and strategic location converge. This development is a testament to the thriving business environment that continues to draw significant capital and enterprise to the region. Such investments are crucial for reinforcing local economic foundations and promoting a climate where businesses, from established corporations to agile small businesses, can flourish with minimal regulatory hurdles.
Private Investment Fuels Deer Valley’s Industrial Ascendancy
Westcore Properties, a prominent industrial real estate acquisition, development, and asset management firm, recently purchased three leased buildings within Mack Innovation Park for $90.7 million. This transaction underscores the increasing value and potential seen in North Phoenix’s industrial landscape. Westcore Properties has a history of active investment in the Phoenix industrial market, holding a portfolio of approximately 3 million square feet in the metropolitan area.
The acquisition reflects a broader trend of private sector confidence in Phoenix’s ability to generate significant returns, driven by strong fundamentals and a supportive economic climate. The capital infusion from such sales often paves the way for further development, attracting new companies and expanding existing ones, thereby strengthening the local economy.
Mack Innovation Park: A Hub for Modern Industry
Mack Innovation Park, situated near Deer Valley Airport at Pinnacle Peak Road and 19th Avenue, is a master-planned industrial project. It features 10 buildings, collectively encompassing over 1,332,176 square feet of Class-A industrial space. The park boasts excellent connectivity, with two direct arterial routes providing convenient access to major freeways throughout Metropolitan Phoenix.
The park’s strategic location is particularly noteworthy due to its proximity to the Taiwan Semiconductor Manufacturing Company’s (TSMC) manufacturing facility, which is approximately 10 minutes away and slated to become operational in 2025. Mack Innovation Park is designed with modern industrial needs in mind, offering features such as energy-efficient clerestory windows, 100% air-conditioned warehouses, full moment frame design, all-concrete truck courts, and LED lighting. The flexibility of the buildings is a key attribute, capable of accommodating tenants requiring spaces as compact as 4,800 square feet.
Deer Valley’s Economic Momentum and Diverse Business Landscape
The Deer Valley area is currently experiencing a significant industrial boom, fueled by escalating demand from semiconductor suppliers and a variety of other businesses seeking to establish or expand their operations in North Phoenix. This surge in activity is evident from the approximately 2 million square feet of industrial space that was scheduled for market release in Spring 2024, with a substantial 60% of this space already secured through pre-leasing agreements.
Leading developers such as Mack Real Estate Group, Hopewell, Opus, Ryan Cos., and Sunbelt Investment Holdings Inc. are actively contributing to the area’s industrial expansion. The strategic advantages of Deer Valley, including its close proximity to the Phoenix Deer Valley Airport and the TSMC site, are primary attractions for companies. This high demand has resulted in a low vacancy rate of around 6.5% in the industrial sector.
The area is already home to a diverse array of major employers, including USAA, Honeywell Aerospace, Amazon, and FedEx. Additionally, companies like Colgate-Palmolive and semiconductor supplier Sunlit Chemical have recently established a presence in Deer Valley, further diversifying the economic base.
Phoenix Deer Valley Airport: An Engine of Growth
The Phoenix Deer Valley Airport plays a crucial role in the region’s economic vitality. It holds significant potential for future development, with 186 acres available for projects ranging from new taxiways to aircraft maintenance services and hangars. In 2020, the airport was recognized as the fifth-busiest globally for aircraft operations, largely attributed to its role in flight training.
The airport system for the city of Phoenix, which includes Phoenix Sky Harbor International, Phoenix Deer Valley, and Phoenix Goodyear airports, contributes an annual total economic impact of $44.3 billion, based on 2022 data. This substantial impact highlights the critical infrastructure and connectivity that draw businesses and support the broader economic expansion of the area. These assets are vital for local businesses, offering unparalleled logistics and access for both goods and personnel.
Phoenix’s Enduring Appeal to Industrial Investors
The larger Phoenix industrial market continues to be a vibrant hub for manufacturing and emerging technologies, boasting a total inventory of 460 million square feet. While the market has experienced a significant wave of new construction, leading to an overall vacancy rate of 12.4% as of Q2 2025, and a higher rate of over 16% for buildings exceeding 100,000 square feet, the underlying demand remains robust. Although rent growth has stabilized, smaller bay and infill assets are demonstrating stronger performance.
Maricopa County has been recognized as the top county in the U.S. for capital investment, a distinction largely driven by its leadership in advanced manufacturing, particularly in semiconductor fabrication, data centers, and supporting logistics. This recognition underscores the strategic advantages Phoenix offers, including a growing population, a skilled workforce, and a business-friendly environment, all contributing to sustained economic growth. Arizona’s favorable tax environment, ranking as the fourth lowest-tax state, further enhances its attractiveness to investors and businesses.
Looking Ahead: Sustaining Phoenix’s Economic Trajectory
The recent $90.7 million sale in the North Phoenix industrial park is a clear indicator of the robust economic health and investment appeal of the Deer Valley area and Phoenix as a whole. This private capital infusion into quality industrial assets is fundamental to fostering continued economic growth, job creation, and entrepreneurial success across the region. The confluence of strategic infrastructure, a burgeoning technology sector, and a commitment to business-friendly policies creates an environment ripe for further prosperity.
As Phoenix continues its trajectory of economic expansion, supported by strategic investments and the resilience of local businesses, residents are encouraged to remain engaged and support the enterprises that contribute to our community’s vitality and growth. By championing local innovation and a streamlined business landscape, Phoenix can ensure its position as a leading hub for opportunity in the Southwest.
Frequently Asked Questions
- What was the recent significant real estate transaction in North Phoenix?
- Westcore Properties purchased three leased buildings at Mack Innovation Park near Deer Valley Airport for $90.7 million.
- What is Mack Innovation Park?
- Mack Innovation Park is a master-planned industrial project in North Phoenix, situated at Pinnacle Peak Road and 19th Avenue, adjacent to Deer Valley Airport. It includes 10 buildings totaling over 1,332,176 square feet of Class-A industrial space.
- What makes the Deer Valley area attractive to businesses?
- The Deer Valley area is experiencing an industrial boom driven by demand from semiconductor suppliers and other businesses. Its strategic location near the Phoenix Deer Valley Airport and proximity to the Taiwan Semiconductor Manufacturing Company’s (TSMC) facility are major draws.
- Which major companies are already present in the Deer Valley area?
- Major employers like USAA, Honeywell Aerospace, Amazon, and FedEx already operate in the area. Colgate-Palmolive and semiconductor supplier Sunlit Chemical have also moved in.
- What is the economic impact of the Phoenix airport system?
- The city of Phoenix’s airport system, which includes Phoenix Sky Harbor International, Phoenix Deer Valley, and Phoenix Goodyear airports, has an annual total economic impact of $44.3 billion, based on 2022 data.
- How is the broader Phoenix industrial market performing?
- The Phoenix industrial market is a vibrant hub for manufacturing and emerging technologies with 460 million square feet in total inventory. Maricopa County has been named the top county in the U.S. for capital investment, driven by advanced manufacturing and logistics.
Key Features of the North Phoenix Industrial Market
| Feature | Description |
|---|---|
| Major Transaction | Westcore Properties’ $90.7 million acquisition of three leased buildings at Mack Innovation Park. |
| Location Benefits | Proximity to Deer Valley Airport and Taiwan Semiconductor Manufacturing Company (TSMC) facility. |
| Mack Innovation Park Details | Master-planned industrial project with 10 Class-A buildings, over 1,332,176 square feet, and modern features like 100% air-conditioned warehouses. |
| Deer Valley Economic Growth | Industrial boom driven by semiconductor suppliers and other businesses; approximately 2 million square feet of industrial space slated for market in Spring 2024, with 60% pre-leased. |
| Major Employers Present | Includes USAA, Honeywell Aerospace, Amazon, FedEx, Colgate-Palmolive, and Sunlit Chemical. |
| Phoenix Airport System Impact | Annual total economic impact of $44.3 billion for the Phoenix airport system (2022 data). |
| Broader Market Performance | Phoenix industrial market is a hub for manufacturing and emerging technologies with 460 million square feet in total inventory. Maricopa County is the top U.S. county for capital investment. |
| Arizona Tax Environment | Arizona is the fourth lowest-tax state, attracting investors and businesses. |
Deeper Dive: News & Info About This Topic
HERE Resources
Arizona Higher Education Achievements and Challenges
Phoenix’s AI Leap: Revolutionizing Arizona Education
Avondale Warehouse Sells for Nearly $90 Million, Boosting Economy
Schnitzer Properties Invests $78M in Gilbert’s Warner Commerce Center
Northern Arizona Weekend Celebrations Drive Local Growth
Arizona Housing Market Shows Remarkable Growth and Resilience
Phoenix Real Estate Legend Closes Chapter with $55 Million Industrial Acquisition
Phoenix Home Sales Defy Odds, Outpace National Market
Phoenix Business Momentum: Key Expansions Signal Growth
Phoenix’s Economic Engine: Fueling Growth Through Strategic Investments
Author: STAFF HERE PHOENIX WRITER
The PHOENIX STAFF WRITER represents the experienced team at HEREPhoenix.com, your go-to source for actionable local news and information in Phoenix, Maricopa County, and beyond. Specializing in "news you can use," we cover essential topics like product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news affecting the area—with deep expertise drawn from years of dedicated reporting and strong community input, including local press releases and business updates. We deliver top reporting on high-value events such as the Waste Management Phoenix Open, Cactus League Spring Training, and Arizona State Fair. Our coverage extends to key organizations like the Greater Phoenix Chamber of Commerce and Visit Phoenix, plus leading businesses in technology and healthcare that power the local economy such as Intel and Banner Health. As part of the broader HERE network, including HERETucson.com, we provide comprehensive, credible insights into Arizona's dynamic landscape.
