Provident Industrial, a division of Dallas-based Provident, has acquired 27 acres in Phoenix for the development of Aldea Exchange, a three-building Class A industrial park.
According to the company Aldea Exchange will be located in the center of the 101 Corridor within Phoenix’s Southwest Valley submarket, with direct access to Loop 101. The property will consist of three newly constructed Class A industrial buildings totaling 471,439 square feet, which will be designed to meet the needs of modern logistics, distribution, and light manufacturing users. Construction is scheduled to begin in the third quarter of 2026.
The financial aspects of the deal were not disclosed.
Southwest Market Leader Steven Nemer stated, “Aldea Exchange marks a major milestone in our expansion strategy and reinforces our long-term commitment to delivering institutional-quality industrial product in Phoenix. This $80-plus million investment is our first since opening our Phoenix office and brings our Phoenix pipeline to nearly 1 million square feet. We are grateful for the partnerships that make projects like this possible.”
