Provident Industrial Acquires 27 Acres to Develop a Class A Industrial Park in Phoenix
PHOENIX, Dec. 9, 2025 /PRNewswire/ – Provident Industrial, a division of Dallas-based Provident, has acquired 27 acres in Phoenix, Arizona, for the development of Aldea Exchange, a three-building Class A industrial park. Located at the Southwest corner of North 99th Avenue and W. Montebello Avenue, the site is positioned at the heart of the 101 Corridor within Phoenix's Southwest Valley submarket and offers visibility and direct access to Loop 101, enabling seamless connectivity to key West Coast logistics hubs, including Southern California, the Inland Empire, Las Vegas, and other major Western distribution markets.
Aldea Exchange will deliver 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. The project will feature institutional-quality specifications and functionality that enhance operational efficiency and long-term value for tenants.
Construction is scheduled to begin in Q3 2026, bringing supply to one of the Phoenix metro's most active and resilient industrial submarkets. The development is being led by Market Officer Chris Martin and Market Leader Steven Nemer. Reflecting on the acquisition, Nemer noted, "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+ 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."
About Provident
Provident is a privately held real estate and investment firm with over three decades of success across multiple market cycles driven by foresight, experience, and adaptability to changing markets. Provident focuses on delivering exceptional risk-adjusted returns to investor partners through the development of opportunistic and value-add strategies. Since its founding in 1991, Provident has developed or invested in over $6.0 billion in real estate projects nationwide. For more information, please visit www.provident.net.
Media Contact: Steven Nemer, snemer@provident.net
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SOURCE Provident Realty Advisors, Inc.