Ryan Companies breaks ground on Phase Two of 17 North Corporate Center

Published: 01/07/2025
Updated: 01/06/2025

Industrial complex located eight miles from TSMC Arizona, offers attractive option in Deer Valley submarket of Phoenix

PHOENIX (Jan. 7, 2025) — Ryan Companies US, Inc., a national commercial real estate solutions provider, and Standard Real Estate Investments, LP have formed a joint venture and announce today the financial closing and beginning of construction on the second phase for 17 North Corporate Center. Located minutes from Interstate 17 at Pinnacle Peak Road, the project is comprised of two Class-A industrial buildings totaling more than 186,000 square feet and will provide users with several onsite features and accessibility to major freeways, residential options and proximity to the Taiwan Semiconductor Manufacturing Company plant.

“The Phoenix market continues to experience an influx of advanced technology and manufacturing companies, which makes this an ideal time to break ground on a high-quality industrial project in the sought-after Deer Valley submarket,” said Josh Tracy, senior vice president of real estate development, Ryan Companies. “This project’s strategic location in north Phoenix provides users with unmatched flexibility and convenience and gives them a front seat to the several impactful developments taking place in the area.”

17 North Corporate Center has immediate access to and visibility from Interstate 17 and is located two miles from the Loop 101 freeway. The project is also within walking distance of the Happy Valley Towne Center and The Shops at Norterra, providing end users with nearby retail and restaurant options. Several hotels, condominium and apartment communities are located within minutes from the project, as well as the Phoenix Deer Valley Airport.

“We’re thrilled to partner with Ryan Companies in the next phase of development at 17 North Corporate Center,” said Lindsay Louie, Principal at Standard. “Ryan Companies’ incredible development acumen and market expertise, combined with this premier location, will make this facility an attractive option to meet the strong demand for state-of-the-art industrial facilities in the Deer Valley submarket.”

Each building will feature fully secured and private concrete truck courts, 32’ clear heights, generous parking ratios, an ESFR sprinkler system, and other best-in-class features. Nearby corporate users include TSMC, Amazon, FedEx and Shock Therapy.

The project is being built and developed by Ryan with construction financing being provided by Bankers Trust. Butler Design Group is the architect of record for 17 North Corporate Center. Cooper Fratt, John Werstler and Tanner Ferrandi from CBRE have been selected to market and lease the project. For more information on leasing, please visit https://www.cbre.com/offices/corporate/phoenix.

“Commercial real estate leaders like Ryan Companies recognize the importance of top-of-the-line industrial space for companies exploring West Coast opportunities,” said Greater Phoenix Economic Council President & CEO Chris Camacho. “This Class-A product developed in the key Deer Valley employment corridor will help companies access the talent and infrastructure needed to best support their growth plans in Greater Phoenix.”

17 North Corporate Center is expected to be completed by Q4 2025. The first phase of the project was comprised of a 111,000-square-foot Class-A industrial building that was built and developed by Ryan.

About Ryan Companies

Founded in 1938, Ryan Companies offers comprehensive commercial real estate services as a national developer, designer, builder, capital markets advisor and real estate manager with a focus on creating places for people to thrive. Ryan work spans a wide range of sectors and product types including healthcare, hospitality, industrial, mixed-use, multifamily, office, retail, and senior living. Built on the foundation of integrity, honesty and community, Ryan has grown to more than 1,800 team members in 17 offices and has completed projects in nearly every state. For more information, visit ryancompanies.com.

About Standard Real Estate Investments

Standard Real Estate Investments (Standard) is a minority-owned and controlled real estate firm that invests in development projects.  The company operates across property sectors with a focus on the development of industrial facilities, the development of market-rate attainable housing, and improving capital access to diverse development partners and diverse communities.  Standard allocates capital to local developers nationwide and develops real estate directly in the Mid-Atlantic.  Standard maintains offices in Los Angeles, California and Washington, D.C.  The leadership team at Standard has invested in assets valued at over $8 billion in total.  For more information, visit www.standardrei.com.

About Bankers Trust

Since 1917, Bankers Trust has been a leading financial institution for commercial and consumer banking services. Headquartered in Des Moines, Iowa, Bankers Trust is the state’s largest privately held community bank with $7 billion in assets. In addition to the 12 branches serving Central Iowa, the bank has branches in Cedar Rapids, IA, and Phoenix, AZ, and an office in Omaha, NE. BTC Trust Company of South Dakota, a wholly-owned subsidiary of Bankers Trust, is based in Sioux Falls, SD. Bankers Trust invests $1 million annually into the community, and its employees volunteer an average of 13,000 hours each year. Learn more at bankerstrust.com.

About Butler Design Group

Since 1996, Butler Design Group has led the way toward innovative and exceptional design with passion and integrity. With over 100 million square feet of projects across the valley and a commitment to lasting relationships, BDG is a trusted name in architecture.

About CBRE

CBRE Group, Inc. (CBRE) is a leading global commercial real estate services and investment firm, providing a wide range of services including property management, leasing, investment sales, and research across diverse property sectors. Recognized as the world’s largest commercial real estate services company, CBRE leverages deep market expertise and proprietary technology to deliver tailored solutions for clients worldwide.

About GPEC

The Greater Phoenix Economic Council (GPEC), globally recognized as a top economic development organization (EDO), works to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. A data-driven regional EDO, GPEC works with 22 member communities, Maricopa and Pinal counties, and more than 220 private investors to accomplish its mission and serve as a strategic partner to companies across the world as they expand or relocate to Greater Phoenix. Over the past 35 years, GPEC has fueled the regional economy by helping over 1,000 companies, creating nearly 190,000 jobs and $69.4 billion in capital investment. Greater Phoenix is in a relentless pursuit of innovative and entrepreneurial-focused companies looking to thrive and scale in a vibrant, dynamic region. There is an undeniable spirit about Greater Phoenix; one rooted in strength, collaboration and resilience. Greater Phoenix is Greater Together. For more information about GPEC and how we can assist your businesses, visit www.gpec.org.