Developer IndiCap is looking to delay construction on the second phase of a major industrial park in southeast Mesa until next year.
Deutsch Architecture Group, the architect of the project, has filed for a one-year extension of the approved site plan for the Eastmark Center of Industry. In a project narrative submitted to the city of Mesa, Deutsch said the reasons for the extension were due to "the cost of material and the current economy is slow."
An approved initial site plan remains in place for two years before it expires in the city of Mesa. IndiCap's site plan is set to expire in the second quarter, said Todd Ostransky, the company's vice president of development. As it looks to reset the clock with an extension, Ostransky said IndiCap expects to start construction in Q2 2025.
IndiCap, which is based in Las Vegas, is nearing completion of the first phase of Eastmark, which includes 977,600 square feet across five buildings.
"We're expecting the substantial completion at the end of this month on phase one, and we are talking to some potential tenants at this point for multiple buildings," Ostransky said.
