Formation Interests is transforming an existing 7-building Phoenix office campus of 338,048 square feet into FORMATION PARK 17, a four-building industrial business park.
FORMATION is soon set to begin demolition of the existing office buildings, which is expected to take three months. Construction is expected to start in August and be completed in Fall 2026. Willmeng Construction is building the project. The CBRE team of Cooper Fratt, John Werstler and Tanner Ferrandi is handling the leasing for the project.
Formation is utilizing joint venture equity and construction financing for the speculative development of the new business park totaling 428,011 square feet of Class AA space along the I-17 Corridor in north central Phoenix. The project is a partnership with a real estate fund advised by Crow Holdings Capital, Comerica Bank, American National Bank of Texas, and Formation’s Southwest Team.
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