Canadian developers plan 2 Valley industrial projects

By Corina Vanek | Phoenix Business Journals

Following a record year for the industrial real estate sector in Arizona, a pair of Canadian companies, Hopewell Development and Nicola Wealth Real Estate, are beginning two industrial development projects in Phoenix.

Hopewell, based in Calgary, Alberta, bought a 9.6-acre site in Chandler in late 2019 for $3.1 million, according to real estate database Vizzda, and plans to build two industrial buildings totaling 145,000 square feet on the property. The project, called South Valley Business Park, has already begun construction and is planned to be completed in the second quarter.

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