The Daily Dig
A venture between Formation Interests and an affiliate of Crescent Real Estate LLC has broken ground on Phase II of Formation Park 10, a 261,168 square foot industrial development in Goodyear, Arizona. The three building expansion follows the completed Phase I. Together the two phases will bring the park to nearly 689,000 square feet across five buildings on 44 acres.
The site sits at the intersection of Bullard Avenue and Celebrate Life Way, with direct access and visibility to Interstate 10. Phase II is designed to complement Phase I's larger-format offerings by accommodating single tenant users looking for 100,000 square feet or more, along with smaller occupiers who need between 15,000 and 25,000 square feet.
According to FORMATION, it is the only project in West Phoenix able to serve that full range of tenant sizes in one development. FORMATION's Mike Gilbert pointed to strong demand from smaller businesses along the I-10 corridor and said quality space in that size range has been hard to find. The two phases share an amenity park that FORMATION describes as first of its kind for an industrial project.
Deutsch Architecture Group, Kimley Horn and RVI are handling design on Phase II. Willmeng is the general contractor, and CBRE is leading leasing for the project. Construction is expected to wrap in spring 2027.
Formation Park 10 marks FORMATION's third project in the Phoenix metro and its flagship Arizona development to date. The company says the project has picked up multiple award nominations for its design and amenities. It fits into a broader Southwest strategy under which FORMATION has developed or is under construction on more than $1.3 billion worth of new development over the past seven years.
Snapshot:
Project Name: Formation Park 10, Phase II
Developer: Joint venture between Formation Interests and an affiliate of Crescent Real Estate LLC
General Contractor: Willmeng
Architect/Design Team: Deutsch Architecture Group, Kimley Horn, RVI
Leasing Agent: CBRE
Location: Intersection of Bullard Avenue and Celebrate Life Way, Goodyear, Arizona
Region: West Phoenix, Maricopa County, Arizona
Sector: Industrial
Phase II Size: 261,168 square feet, three buildings
Total Park Size (Phases I and II): Nearly 689,000 square feet, five buildings
Site Size: 44 acres
Tenant Sizing Target: Single tenant users 100,000+ SF, and flexible users from 15,000 to 25,000 SF
Status: Groundbreaking held
Expected Completion: Spring 2027
Notable Feature: Shared amenity park anchoring Phases I and II
TheJobWalk Thoughts
FORMATION's own read on demand is worth taking seriously here. Gilbert's comment about strong interest from smaller businesses along the I-10 corridor comes from the developer that just committed three buildings to serving that segment. Subs and suppliers working in the 15,000 to 25,000 square foot range should track how quickly that space leases up, since it signals real demand rather than a guess.
Having CBRE handle leasing across both tenant tiers in one park is a practical setup for brokers and sales teams. It likely means one leasing relationship can cover conversations about both the large single-tenant buildings and the smaller flexible spaces, rather than juggling separate contacts.
A spring 2027 completion gives tenant improvement contractors and fit out crews a defined runway. Anyone positioning for that work should start those conversations now, well ahead of delivery.
