Pritzker Realty (PRG) bought 24 acres of infill land in Phoenix for .5 million. Hensley Beverage Group was the seller. The vacant site, which had no future operational use for Hensley Beverage, will serve as the foundation for PRG’s first speculative industrial development in the Phoenix metropolitan area. PRG’s plans include the development of two Class A, speculative warehouses totaling 418,000 square feet.

A Transwestern team of Paul Borgesen, Dylan Sproul and Royden Hudnall represented both the seller, Hensley Beverage Group, and the buyer, Pritzker Realty Group (PRG), in the sale of 4507 N. 45th Ave.

AZ Big Media reports construction is slated to begin in the second quarter of 2025, with project completion expected in early 2026. The project team includes Ware Malcomb (architects) and FCL Builders (general contractor).

The site is located in the Grand Avenue submarket, which had 13.7 million square feet of industrial space and a 7.7% vacancy as of the close of the third quarter of 2024, according to Transwestern research.