December 18, 2024 10:23 am
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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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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.