Irvine-based real estate investor and developer Shopoff Realty Investments has closed on a nearly 270-acre site in Mesa, Ariz. for a proposed manufacturing project totaling up to 4.1 million square feet.
The acquisition price was not disclosed.
The former dairy farm is situated about three miles from the Phoenix-Mesa Gateway Airport. Potential plans may include 12 to 15 buildings with an average size of 500,000 square feet.
“This property is located in a burgeoning employment hub with increasing demand for manufacturing space,” President and CEO William Shopoff said in a statement. “We plan to work closely with the city to annex the property into the City of Mesa, and subsequently entitle the property for manufacturing use, in order to meet market demands.”