Majestic Realty Co., the nation’s largest privately-held industrial real estate development company, and the Salt River Pima-Maricopa Indian Community (SRPMIC) today announced a historic partnership and 99-year ground lease agreement that will serve as the foundation of a new, best-in-class light industrial project serving the Community and the greater Phoenix metro area.
Located at the northeast corner of North Pima Road and East McDonald Drive and with easy access to the Loop 101 (Pima Freeway), the 59-acre project is currently in the planning and predevelopment phase. The development will emphasize thoughtful site integration while maximizing regional connectivity, logistics efficiency and employment growth. Financial terms of the agreement were not disclosed.
With an anticipated groundbreaking in 2027, the development is expected to feature up to eight Class-A light industrial buildings totaling just under one million square feet. With building sizes up to 200,000 square feet and divisible to approximately 20,000 square feet, each building will feature dock-high doors and the latest amenities and safety features found in today’s best-in-class light industrial product. A first-of-its-kind development in the SRPMIC, the project will be designed and built to the highest institutional standards and engineered for long-term adaptability, supporting a wide range of tenants and uses not previously available within the Community. The project is positioned to generate long-term economic benefit and employment opportunities for the Community and the broader region…