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4/24/26
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Creation Equity, a Phoenix-based real estate development and alternative investment firm, paid $18.05 mil for 38 acres in Avondale, AZ that will be used for the development of Avondale Tech Center, a 699.7k sf industrial project.
The site is part of approximately 70 acres acquired by the seller, Z-Modular, in 2021 for a multifamily development called FLATZ 623. Slated for delivery in May 2026, FLATZ 623 will include upscale studio, 1, 2 and 3-bedroom apartments and a range of high-end amenities.
Avondale Tech Center will be located at the northeast corner of Corporate Dr and 117th Ave, less than one mile south of Interstate 10. At completion, it will include three buildings: a 254.3k sf Building A, 233.2k sf Building B and 212.2k sf Building C.
Creation is slated to break ground on Avondale Tech Center in Summer 2026. LGE Design Build is the project architect and general contractor. According to the City of Avondale, Avondale Tech Center has the potential to generate an estimated $30 mil in direct tax revenue and create up to 1,000 jobs over the next 10 years.
Jake McClaughry and Brian Gausden with Western Retail Advisors represented both the buyer and seller in the transaction.
“Once Z-Modular determined the scale of FLATZ 623, they tasked us with finding the right buyer for the balance of their site,” said McClaughry. “We procured over 10 offers on the land, with Creation ultimately emerging as the best path forward.”
One of metro Phoenix’s fastest growing cities, Avondale is rapidly expanding with new office and industrial development, The BLVD mixed-use district, and new residential communities and municipal amenities. It sits in the Southwest Valley submarket, where industrial vacancies have dipped into the 2% range, with nearly 3 msf absorbed in the first quarter of 2026.
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