In Q3-17, Artis bought the remaining 10% interest of Phase I, III and IV of Park Lucero, an industrial project located in the Greater Phoenix Area, Arizona. Construction of Phase I was completed in 2015. Construction of Park Lucero Phase II, in which Artis still has a 90% ownership interest as a joint venture arrangement, comprising 132,000 square feet was completed in Q1-17. Construction of Park Lucero Phase III, which is 100% leased and comprises 147,000 square feet, was completed in Q2-17. The entire project is expected to total approximately 580,000 square feet.
For more information, please visit http://www.parklucero.com/ or view this Video Tour