$1B Mixed-Use Project to Break Ground Near Phoenix

August 8, 2025

Development Featured Mixed Use News More Phoenix West

This campus will comprise 3 million square feet of industrial space at full build-out.

The Ranch, a $1 billion, 295-acre, mixed-use development in Gilbert, Ariz., is set to break ground in the fourth quarter after receiving final entitlement approval this week from the city’s planning commission.

Rendering of The Ranch mixed-use development in Gilbert, Ariz. — The Ranch will feature 34 acres of retail, including full-service restaurants, quick-service restaurants with drive-throughs. *Image courtesy of The Ranch*

The project will take shape along Power Road between Warner and Elliot roads to become Gilbert’s largest mixed-use campus. The majority of the development led by IndiCap, Colmena Group and Langley Properties will be industrial, but it will also include multifamily housing, retail and open space after residents in the adjacent Morrison Ranch neighborhood pushed back on the original design proposed in 2022. After changes were made to the proposal, the Gilbert City Council approved the project in June 2023.

Upon full build-out, The Ranch will include 3 million square feet of light industrial space across 221 acres, providing flexible logistics and warehouse solutions. The buildings are to range from 66,000 square feet to 881,000 square feet, with clear heights spanning from 28 feet to 40 feet. The industrial component will include both truck-style and cross-dock facilities.

The Ranch will also feature 34 acres of retail, including full-service restaurants, quick-service restaurants with drive-throughs, grocery, automotive and other neighborhood services. In addition, the campus will include 729 multifamily residential units in three communities, designed with walkability, green space and neighborhood-scale retail.

Phase 1 details

Harvest Village will be a neighborhood lifestyle retail center that will eventually total approximately 51,000 square feet across seven buildings. Its initial phase will feature 20,000 square feet of speculative retail and restaurant space across four buildings and an open-air social plaza.

Phase 1 will also include site infrastructure improvements to prepare pad-ready sites at Corner Springs, another commercial center that will have 78,000 square feet of retail, restaurant, office and patio space. It will have four dedicated drive-through pad sites. A pedestrian walkway along Elliot Road will connect Corner Springs to nearby residential units and surrounding neighborhoods.

An 18-acre open space will serve as a buffer between the overall development and surrounding neighborhoods and also provide a large amenity space including a greenbelt with lighted walking paths, seating, shade and gathering areas.

Steve Larsen of JLL is managing leasing for the industrial portion of the project. Jennifer Hill of GPS Commercial Advisors is managing leasing and sales at Harvest Village. Mark Bramlett of Lee & Associates is leading the brokerage efforts for Corner Springs.

Economic impact on region

The developers project The Ranch to have an annual $1.5 billion impact on the region, including providing $31.6 million in recurring tax revenue and supporting nearly 9,000 jobs. During construction, the project is expected to have a total economic impact of approximately $96.2 million including $42.8 million in tax revenue and 5,888 jobs.

The Ranch site is close to major freeways, including U.S. Route 60 and Loop 202, and also near Phoenix Mesa Gateway Airport and Arizona State University Polytechnic Campus in Mesa. Rail facilities and Phoenix Sky Harbor International Airport are within a 15-minute drive.

Phoenix continues to have one of the strongest industrial markets in the nation. The city’s development pipeline at the end of December was 22.4 million, down from 42.5 million the previous year. That was enough for Phoenix to maintain its status as the nation’s most active construction market in 2024, according to Yardi Research Data.

The region’s industrial market maintained healthy demand, with 4.4 million square feet of net absorption in the second quarter of this year, according to a CBRE report. Meanwhile, the vacancy rate dropped 30 basis points over the quarter to 11.9 percent, its largest decrease since Q1 2022.