The 16.6 acre web site is deliberate to be developed right into a warehouse/distribution facility.
Provident Realty Advisors (Provident) has made its first Phoenix-area transfer with the acquisition of 16.6 acres in Glendale, Ariz. Plans for the location embrace a 302,400 sq. foot warehouse/distribution facility. The gross sales value was not disclosed.
The property was beforehand bought by the Maricopa County Regional Faculty District for $1.64 million in 2004, in accordance with CommercialEdge knowledge.
Completion of the Class-A distribution facility is anticipated for early 2024 with building to begin within the first half of 2023. Facilities are set to incorporate 36-foot clear heights, 61 dock doorways, 86 parking areas outfitted for trailers and a 185-foot truck courtroom.
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Situated at 6550 W. Orangewood Ave., the asset is seen from Grand Avenue with entry to the bigger Phoenix space. Regardless of workplace funding slowing down in Phoenix within the second quarter of 2022, the commercial market is about to surpass a record-breaking 2021 within the second quart of 2022, in accordance with a latest CBRE report. The identical report reveals 31.2 million sq. toes of commercial area below building at the moment. Provident entered the Phoenix market with this acquisition and has a complete of 14 industrial websites throughout the Sunbelt.
Case Van Lare, Chris Martin and Cavanaugh Adams led Provident within the buy whereas CBRE’s John Werstler, Cooper Fratt and Tanner Ferrandi will head up leasing.
