Provident Industrial has acquired 27 acres in Glendale in the Phoenix metro area to develop a three-building, Class-A industrial park called Aldea Exchange, according to a press release.
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The park’s three industrial buildings will total some 471K SF of space designed to “meet the needs of modern logistics, distribution, and light manufacturing users,” according to the release.
The site sits at the center of the 101 Corridor, at the southwest corner of North 99th Avenue and West Montebello Avenue, with direct access to Loop 101.
Construction is set to begin in Q3 2026.
In the release, Provident’s Steven Nemer said the $80M project brings its Phoenix pipeline to almost 1M SF.
In October, Provident delivered a 292,276 SF industrial building, the Orangewood Commerce Center at 6550 W. Orangewood Ave., also in Glendale. It was Provident’s first industrial deal in Greater Phoenix.
In November, CoStar ranked Glendale top among all U.S. submarkets in industrial sales volume, the Phoenix Business Journal reported. The region had a year-to-date sales volume of nearly $1B in 2025.
Chandler ranked 14th in the CoStar report, with a year-to-date sales volume of $435M.
Overall, Phoenix’s industrial sales volume in Q3 outpaced the volume of much larger major markets in California, according to a Newmark report.
CORRECTION, DEC. 17, 11:06 A.M. ET: A previous version of this story featured a photo of Glendale, California, instead of Glendale, Arizona. The story has been updated.
