{"id":1004603932,"date":"2022-09-23T06:30:04","date_gmt":"2022-09-23T14:30:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004603932"},"modified":"2022-12-08T17:27:30","modified_gmt":"2022-12-09T01:27:30","slug":"provident-expands-to-phoenix","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/provident-expands-to-phoenix\/","title":{"rendered":"Provident Expands to Phoenix"},"content":{"rendered":"<div id=\"attachment_1004603933\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004603933\" data-attachment-id=\"1004603933\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/provident-expands-to-phoenix\/provident-realty-advisors-inc-building\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg\" data-orig-size=\"800,620\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;Provident Realty Advisors, Inc.&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;6550 W. Orangewood Avenue, Glendale, AZ&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;Provident Realty Advisors Inc-Building&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"Provident Realty Advisors Inc-Building\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;6550 W. Orangewood Ave. rendering. Image courtesy of Provident Realty Advisors&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg?w=800\" class=\"size-medium wp-image-1004603933\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg?w=300\" alt=\"\" width=\"300\" height=\"233\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg?resize=300,233 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/09\/Provident_Realty_Advisors_Inc_Building.jpg?resize=768,595 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004603933\" class=\"wp-caption-text\">6550 W. Orangewood Ave. rendering. Image courtesy of Provident Realty Advisors<\/p><\/div>\n<p><strong>Provident Realty Advisors<\/strong> has made its first Phoenix-area move with the acquisition of 16.6 acres in Glendale, Ariz. Plans for the site include a 302,400-square-foot warehouse\/distribution facility. The sales price was not disclosed.<\/p>\n<p>The property was previously purchased by the <strong>Maricopa County Regional School District<\/strong> for $1.64 million in 2004, according to <a href=\"https:\/\/apps.commercialcafe.com\/broker\/content\/#!\/propertyDetails\/14425311\" target=\"_blank\" rel=\"noopener\">CommercialEdge data<\/a>.<\/p>\n<p>Completion of the Class A distribution facility is anticipated for early 2024, with construction to start in the first half of 2023. Amenities are set to include 36-foot clear heights, 61 dock doors, 86 parking spaces equipped for trailers and a 185-foot truck court.<\/p>\n<hr>\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/top-5-markets-for-industrial-construction-activity\/\" target=\"_blank\" rel=\"noopener\">Top 5 Markets for Industrial Construction Activity<\/a><\/p>\n<hr>\n<p>Located at 6550 W. Orangewood Ave., the asset is visible from Grand Avenue with access to the larger Phoenix area. Despite <a href=\"https:\/\/www.commercialsearch.com\/news\/office-investments-cooled-in-phoenix-in-q2\/\" target=\"_blank\" rel=\"noopener\">office investment slowing down in Phoenix<\/a> in the second quarter of 2022, the industrial market is set to surpass a record-breaking 2021 in the second quarter of 2022, according to a recent <a href=\"https:\/\/www.cbre.com\/insights\/reports\/phoenix-industrial-market-report-q2-2022\" target=\"_blank\" rel=\"noopener\"><strong>CBRE<\/strong> report<\/a>. The same report shows 31.2 million square feet of industrial space under construction. Provident entered the Phoenix market with this acquisition, and has a total of 14 industrial sites across the Sunbelt.<\/p>\n<p>Case Van Lare, Chris Martin and Cavanaugh Adams led Provident in the purchase, while CBRE\u2019s John Werstler, Cooper Fratt and Tanner Ferrandi will head up leasing.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Construction is slated to start early next year on a Class A distribution facility.<\/p>\n","protected":false},"author":3006,"featured_media":1004603933,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,21748,21783,21742,1601,15],"tags":[32789,37306],"class_list":["post-1004603932","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-cbre","tag-provident-realty-advisors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Provident Expands to Phoenix - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"The 16.6 acre site is planned to be developed into a warehouse\/distribution facility. 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