Nicola Wealth Real Estate and Hopewell Development are strategically developing three industrial properties in low-tax, low-regulation Southwestern states with high migration.
NWRE’s focus is growing an industrial portfolio in target markets against the backdrop of the increasing demand for industrial buildings to house e-commerce and distribution operations.
NWRE and Hopewell recently acquired the sites for North Valley Industrial Park in the Deer Valley submarket and the South Valley Business Park in the Chandler submarket, with plans for delivering best in class mid-bay industrial developments.
South Valley Industrial Park has broken ground. The project consists of two industrial buildings totaling approximately 145KSF. Completion is scheduled for Q2, 2021.
The North Valley Industrial Park is a multi-phase project – with Phase I commencing April 2021 – for development of 131KSF over two buildings adjacent to the Deer Valley Airport. North Valley will complete in fall, 2021.
In addition, the partnership recently acquired an in-fill 8.5-acre site in Las Vegas. (Source)