Provident Industrial Launches New Development Opportunity
Provident Industrial Launches New Development Opportunity
Provident Industrial, a branch of a Dallas-based firm, is moving forward with plans to construct an innovative industrial complex known as the Orangewood Commerce Center. This development is poised to enhance the industrial landscape and respond to a pressing demand for quality warehouse space. With a total area of 292,276 square feet, this state-of-the-art facility will feature specialized office space and modern amenities.
Strategic Location and Key Features
Situated conveniently near major transportation routes, the Orangewood Commerce Center will offer businesses easy access, being just 10 miles from a key downtown area. Designed as a Class A building, it promises features that meet contemporary industrial needs, including ample dock doors, high clearance, and secure parking facilities. This project is backed by a collaborative effort involving Provident Industrial, Junction Commercial Real Estate, and Centennial Bank, which brings a strong foundation of expertise to the initiative.
Facilities Designed for Modern Businesses
Among its standout features, the complex will boast a 36-foot clear height, along with 59 dock doors and 4 grade-level doors, making it highly adaptable for various tenants. It caters to businesses requiring large floor space, with flexible configurations ranging from 100,000 square feet to the full size of the building. The thoughtful design ensures that users can operate efficiently in a secure environment, with a dedicated truck court and extensive trailer parking options.
Market Trends and Expectations
With the anticipated completion targeted for a future quarter, the Orangewood Commerce Center aims to mitigate the slowdown currently observed in the industrial construction sector across the region. The management team, led by Provident Industrial's Managing Director Case Van Lare and Director Chris Martin, is optimistic about this project’s potential to fulfill the increasing demand for new industrial spaces in the market.
Insights from the Leadership Team
Commenting on this strategic move into a strong market, Chris Martin highlighted the notable growth in the Phoenix area, emphasizing that this development represents an ideal opportunity for expansion. He mentioned, "With construction starts slowing, this project is perfectly timed to address the demand for new industrial spaces, ensuring we remain competitive in a rapidly evolving marketplace. We're excited about meeting customers' needs as we move forward with this essential project."
Leasing Opportunities and Future Prospects
The development team has engaged CBRE representatives who will manage leasing opportunities for this facility. This collaboration highlights the project’s commitment to engaging reputable industry partners to maximize interest and operational efficiency once the center opens.
About Provident
With a rich history in the real estate sector, Provident has established itself as a reputable firm with over three decades of successful investment and development activities. Focusing on delivering solid returns, the company has engaged in various notable projects, representing an extensive portfolio exceeding $5.9 billion across the nation.
Frequently Asked Questions
What is the Orangewood Commerce Center?
The Orangewood Commerce Center is a cutting-edge industrial facility under construction by Provident Industrial, designed to provide flexible space for various business needs.
When is the expected completion date for the project?
The completion of the Orangewood Commerce Center is scheduled for the third quarter of 2025.
Who is involved in the development of this center?
The center is being developed through a partnership between Provident Industrial, Junction Commercial Real Estate, and Centennial Bank.
What features does the Orangewood Commerce Center include?
This facility will offer 292,276 square feet of space, 59 dock doors, high clear heights, and a secure truck court among its many modern amenities.
How can I contact Provident for more information?
For media inquiries regarding the Orangewood Commerce Center, you can reach out to Chris Martin via email.
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