PEORIA, Arizona – June 7, 2024 – Greystar, a global leader in the investment, development, and management of institutional-quality commercial real estate, has joined with officials from the City of Peoria and project partners to celebrate the completion of Caliber by Greystar, a three-building, Class A industrial development in Peoria, Arizona.
Caliber marks the first development piece to deliver within Greystar’s $500 million, 88-acre Peoria Place master plan, which at build-out will include luxury apartments, build-for-rent homes and ground-floor retail in the heart of Peoria’s historic downtown.
“High on this City Council’s list of priorities is bringing new life to our historic downtown,” said Peoria Mayor Jason Beck. “Greystar’s Peoria Place is a critical component as we work to grow new housing and employment opportunities in the place in which our city was founded.”
“For 30 years, the city has worked to spur new development in historic downtown Peoria, and Peoria Place hits the mark,” added Mayor Pro Tempore Jennifer Crawford. “As the councilmember that represents this part of Peoria, I am thrilled to see the evolution and know that this development will help spark even more opportunities in this area.”
“The completion of Caliber is the first step toward realizing our vision for Peoria Place, and we’re extremely pleased to hit this milestone,” said Wil Hogue, Greystar Senior Associate. “Caliber will serve as a magnet for new business and employment, fortifying the ‘work’ element in our live-work-play master plan. We appreciate everyone who joined us today to celebrate this achievement and we look forward to the positive economic impact to come.”
Located at 9303, 9451 and 9595 N. 79th Ave. in Peoria, Caliber by Greystar spans 411,918 square feet in three buildings – a 114,446-square-foot Building A, 122,863-square-foot Building B, and 174,609-square-foot Building C.
All buildings feature 32’ clear height, modern 50’ x 52’ column spacing, energy efficient LED lighting, ESFR sprinklers and 190’ truck courts. Infrastructure installed at each building offers tenants the opportunity to double their power capacity from 3,000 to 6,000 amps, supporting expanded capabilities and value-add improvements such as roof-mounted solar systems and EV charging stations. Together, Caliber offers 99 dock doors and six drive-in doors, as well as parking for 554 cars.
All buildings also include completed speculative office space with conference rooms, break rooms, open and private offices, and restrooms. To facilitate an immediate move-in, Greystar has speculative HVAC and lighting on site so that a new tenant can immediately occupy 40,000 square feet while waiting for permits to occupy their entire leased space.
“These buildings were designed to fill Peoria’s need for flexible, immediately available industrial space,” said JLL Executive Managing Director Anthony Lydon, who along with JLL’s John Lydon, Hagen Hyatt and Kelly Royle serve as Caliber’s exclusive leasing brokers. “We already are fielding strong leasing interest from a host of high-quality users, which we know will bring great value to the community.”
Caliber is located at the southwest corner of 79th and Grand avenues, directly along the U.S. 60, two miles from Loop 101, and within a 30-minute drive of 3,450 transportation/warehouse and manufacturing firms, and more than 14,180 employees from those sectors. It is also minutes from major retail, dining and entertainment destinations including Westgate and State Farm Stadium, and one-half mile south of Pioneer Community Park, an 83-acre public space with dog parks, an urban lake, public art and more than 10 lighted fields for various sports.
In January, Greystar broke ground on Marlowe Peoria Place, which will add 370 apartment homes to the Peoria Place master plan. The project will feature a fitness center, pickleball court, two dog parks, a coworking space in the clubhouse and a pool with cabanas and spa. At build-out, Peoria Place will include more than 700 apartments, 255 build-for-rent homes, 4,900 square feet of retail space and the Caliber logistics project.
The project architect for Caliber is Deutsch Architecture Group. The general contractor is Layton Construction. For leasing inquiries at Caliber, contact the JLL team at (602) 282-6300.
About Greystar
Greystar is a leading, fully integrated global real estate company offering expertise in property management, investment management, development, and construction services in institutional-quality rental housing, logistics, and life sciences sectors. Headquartered in Charleston, South Carolina, Greystar manages and operates more than $290 billion of real estate in 247 markets globally with offices throughout North America, Europe, South America, and the Asia-Pacific region. Greystar is the largest operator of apartments in the United States, manages more than 857,400 units/beds globally, and has a robust institutional investment management platform comprised of more than $76 billion of assets under management, including over $34 billion of development assets. Greystar was founded by Bob Faith in 1993 to become a provider of world-class service in the rental residential real estate business. To learn more, visit www.greystar.com.
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