Staff Reports | Business & Construction
Cushman & Wakefield’s Phoenix Industrial Team announced that it represented the seller, the Basha family, in the sale of TEN56, a 12-acre site at the southwest corner of 56th Street and Chandler Boulevard in Chandler.
Cushman & Wakefield’s National Industrial Advisory Group also arranged the joint venture equity partnership between Becknell Industrial and STAG Industrial, which acquired the site and plans to develop a 184,424-square-foot industrial building, according to a press release.
“We are thrilled to bring this strategically located infill site to life in one of the most land-constrained submarkets in greater Phoenix, minutes from downtown and mission-critical neighbors like Intel and Honeywell,” Harry Kutner, vice president of acquisitions and development for STAG Industrial, said. “We are grateful for the collaboration with the City of Chandler, the Cushman & Wakefield team, and our continued partnership with Becknell Industrial.”
Construction is expected to begin in the third quarter of 2026.
Plans call for a rear-load industrial facility with a 32-foot clear height, full HVAC coverage, LED lighting, a 2,500-square-foot speculative office, 33 dock-high doors and two grade-level doors. Cushman & Wakefield’s Phoenix Industrial Team has been retained to lease the project.
“Strategically located approximately one-half mile from a full diamond interchange on Interstate 10, the site offers exceptional regional and national distribution capabilities through immediate access to the I-10 corridor, convenient connectivity to the Loop 202 freeway system, and efficient access to both West Phoenix and the East Valley,” Executive Vice Chair Steve Haenel of Cushman & Wakefield said. “Positioned within the highly sought-after Chandler submarket, the property will be supported by a deep and growing labor pool with a strong concentration of advanced manufacturing and logistics users.”
