For Immediate Release
Council set to OK largest building in Surprise
418,000 s.f. manufacturing facility at Skyway
Surprise AZ (August 7, 2012)
The Surprise City Council indicated its intent to vote next week on an agreement clearing the way for the largest building ever constructed in Surprise, a 418,000 square foot manufacturing facility at Skyway Business Park.
The speculative building will be developed by Skyway LLC, a firm that builds and manages commercial real estate. The company intends to build the structure on 24 acres of land at the Skyway Business Park on property located roughly south of Cactus Road and west of Dysart Road
“This is significant as the largest building in Surprise and it shows the commercial real estate industry recognizes the vitality and potential of the Surprise marketplace,” says Assistant City Manager Jeff Mihelich. “It fills a need in our portfolio by creating a large, already built facility that can be modified to suit the needs of businesses considering locating in Surprise.”
The building represents a $10 million capital investment, will create 100 construction jobs and generate $500,000 in revenues from sources such as construction sales tax, according to Mihelich. Future tenant improvement to customize the building for incoming businesses will create even more jobs, he said.
The structure joins several other recent Surprise economic development success stories at the Skyway Business Park, including Gestamp Solar Steel, Rio Glass, Brentwood Industries, Southwest Products and Intrepid Industries, all of whom have located at the Business Park within the last two years.
“It is a big win for Surprise to be able to go out into the marketplace and say that private investors believe in us so strongly that a large spec building is approved and ready to go up on site,” Mihelich added.
Surprise will cover as much as $275,000 in fees and permit costs if Skyway LLC meets certain performance criteria, including obtaining a certificate of completion for the project by February 1, 2014.
Skyway LLC is headed by Moshi Silagi, a commercial real estate developer from Thousand Oaks, California, who also appeared at Tuesday’s work session.