PHOENIX — Provident Industrial, a division of Dallas-based Provident, has acquired 27 acres in Phoenix for the development of Aldea Exchange, a new three-building Class A industrial park that will add more than 470,000 square feet of modern logistics and manufacturing space to the region.
The $80 million–plus project will rise at the southwest corner of North 99th Avenue and West Montebello Avenue, a high-visibility site along the 101 Corridor in Phoenix’s Southwest Valley—one of the metro’s fastest-growing and most in-demand industrial submarkets. The strategic location provides immediate access to Loop 101, enabling efficient connectivity to major Western distribution hubs, including Southern California, the Inland Empire, and Las Vegas.
Aldea Exchange to Deliver 471,000+ Square Feet of Class A Space
Aldea Exchange is planned as a three-building campus totaling 471,439 square feet, offering institutional-quality features designed to support the needs of logistics, distribution, and light manufacturing tenants. The buildings will incorporate modern clear heights, expansive truck courts, and flexible floor plans intended to maximize operational efficiency and long-term tenant value.
Construction is scheduled to begin in Q3 2026, bringing new supply to a submarket that continues to see strong tenant demand and sustained absorption.
A Major Milestone for Provident’s Phoenix Expansion
The acquisition marks a significant step in Provident’s strategic expansion into the Phoenix market. The development is being led by Market Officer Chris Martin and Market Leader Steven Nemer, who highlighted the project as a key part of the company’s growing regional presence.
“Aldea Exchange marks a major milestone in our expansion strategy and reinforces our long-term commitment to delivering institutional-quality industrial product in Phoenix,” Nemer said. “This $80+ million investment is our first since opening our Phoenix office and brings our Phoenix pipeline to nearly 1 million square feet.”
Southwest Valley Remains a Logistics Hotspot
Phoenix’s Southwest Valley continues to attract large industrial investments due to its strong labor force, transportation infrastructure, and access to major Western markets. Aldea Exchange adds to a steady pipeline of new industrial development aimed at meeting the needs of e-commerce, supply-chain operators, and advanced manufacturing users.
Further details on leasing and project specifications are expected as Aldea Exchange approaches its 2026 groundbreaking.
