Rose Law Group Reporter noted the October 2025 groundbreaking of Bethany Bay, a two-building, 136,800-square-foot Class-A shallow-bay industrial development at 16380 and 16840 West Bethany Home Road in Glendale, Arizona. The $31 million project is co-developed by IndiCap and VAC Development and sits within the Loop 303 corridor — one of metro Phoenix's most active industrial submarkets. Delivery is scheduled for August 2026.
The development is notable as one of the first shallow-bay industrial projects in the West Valley to secure third-party institutional financing. Berkeley Partners provided the senior loan and Olive Point Capital contributed preferred equity, with Newmark arranging placement. Suite sizes range from 4,500 to 18,000 square feet across the two buildings, targeting the small-to-mid-size tenants that have found limited options for modern, Class-A space in the submarket. FCL Builders is general contractor, Ware Malcomb is architect and civil engineer, and Colliers is managing the leasing program.