Provident Realty Advisors Enters Phoenix Market with Acquisition of 16.60 Acre Site in Glendale

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Sep 22, 2022, 12:24 ET

GLENDALE, Ariz., Sept. 22, 2022 /PRNewswire/ -- Provident Realty Advisors, a Dallas, TX based real estate and investment firm, announces the acquisition of 16.60 acres at 6550 W. Orangewood Avenue, Glendale, AZ. Located just west of Grand Ave, Provident plans to develop a +/-302,400 SF speculative warehouse/distribution facility on the site.

Construction on the Class-A distribution facility will begin in the first half of 2023 with completion slated for early 2024. The building will feature state-of-the-art specifics, such as 36' clear heights, +/- 61 dock doors, a 185' truck court, and 86 trailer parking spaces, and will directly benefit from access to the strongest labor pool in Metro Phoenix. "We are excited to make our entrance into Arizona with the acquisition of this incredible site. The infill location and visibility from Grand Avenue is unmatched for any new industrial development of scale in Phoenix," said Leon Backes, Founder and CEO of Provident Realty Advisors.

Over the past three years, Provident has rapidly grown their industrial portfolio across the Sunbelt, and currently owns fourteen industrial sites and will have over 9,050,000 SF under development by the end of 2022. "Unlike the recently constructed industrial sites further West in Phoenix, the site possesses a rare and extremely infill location within the City of Glendale that gives us, and our future tenants, an advantage over the competition," said Case Van Lare, Executive Director of Development and Acquisitions.

Case Van Lare, Chris Martin, and Cavanaugh Adams led the transaction for Provident Realty Advisors. John Werstler, Cooper Fratt, and Tanner Ferrandi with CBRE will spearhead leasing for the development.

For more information on leasing please contact Tanner Ferrandi at CBRE ([email protected]).

For more information on the development please contact Chris Martin at Provident Realty Advisors ([email protected]).

About Provident Realty Advisors, Inc.

Provident Realty Advisors, Inc. is a privately held real estate and investment firm that has thrived through three decades and multiple market cycles with foresight, depth of experience, and a unique ability to adapt to shifting demands, market trends and challenging economic cycles. Provident seeks to provide exceptional risk-adjusted returns to its investor partners through superior development of opportunistic and value-added strategies. Since its formation in 1991, Provident has developed or invested in more than $5 billion worth of real estate projects across the country. For more information, please visit www.providentrealty.net.

SOURCE Provident Realty Advisors, Inc.