April 25, 2024 8:17 pm
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California industrial developer continues Phoenix-area building spree

An artist’s rendering shows an industrial complex under construction by Majestic Realty Co. in Tolleson. / Provided by Majestic Realty Co. / Phoenix Business Journal

By Corina Vanek | Phoenix Business Journal

Majestic Realty Co. has closed on 30 acres of land near Loop 202 in southwest Phoenix where it plans to build a commerce park totaling more than 500,000 square feet.

The site at 55th Avenue and Lower Buckeye Road is near the Loop 202 off-ramp that is scheduled to open this month. Majestic bought the land from Cavco Industries Inc. for $6.77 million, according to real estate database Vizzda.

Southern California-based Majestic plans to break ground on the site, called Majestic 55, during the first quarter of 2020. The building will total 502,000 square feet of speculative industrial space and will be divisible to accommodate up to six users.

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