Most of the Phoenix industrial story over the past decade has been about big boxes.
The market that has been quietly underserved is everything else: entrepreneurs, regional logistics operators, manufacturers, and modern small-format businesses who do not need a million square feet but do need ownership, identity, and amenities.
Happy Valley BizTech is the prototype project for the BizTech product line, a 34.9-acre flex industrial campus delivering approximately 470,000 square feet plus 4.2 acres of retail, built specifically for them.
The central amenity space. Cafés, gyms, walking paths, pergolas, and gathering areas engineered for the tenant base traditional industrial fails to serve.
Rendering
The campus is engineered with flexible, scalable building configurations to serve a diverse mix of small, mid-sized, and emerging companies across logistics, light manufacturing, and technology-enabled operations.
The site sits at 163rd Avenue and Happy Valley in the City of Surprise, on the rapidly densifying Loop 303 industrial corridor near the TSMC semiconductor campus. Integrating retail services within the development adds convenient amenities for tenants and addresses the limited supply of modern, amenity-rich industrial space in one of Phoenix’s fastest-growing areas. Construction is scheduled to break ground in 2027 and reach completion in 2029.
Rear of Building 04. The warehouse program behind the office-showroom frontage. Configured for small- to mid-bay tenants across logistics, light manufacturing, and technology.
Rendering
The thesis is structural. Beyond the building program, BizTech Happy Valley integrates retail and amenity services engineered for the tenant base traditional industrial fails to serve.
Phoenix has structurally underbuilt the small-bay segment. Space under 50,000 square feet holds vacancy near 5 percent while mid-box product runs close to 20 percent, and flex rents carry a premium of roughly one third over standard warehouse. On the Loop 303 corridor itself, manufacturing and distribution business locations more than doubled between 2019 and 2022.
THESIS
Market Position · Data Sheet
04 STATS
Vacancy · Small-Bay
Near
5%
Phoenix industrial vacancy for space under 50,000 SF.
Vacancy · Mid-Box
Above
19.7%
Phoenix 100K to 250K SF industrial vacancy by comparison.
Lease Velocity
Rent Premium
33%
Phoenix flex rents vs. standard warehouse, $1.37 vs $1.03.
Activity Share
Corridor Growth
Up 114%
Loop 303 manufacturing and distribution locations, 2019 to 2022.
Market Data
Cushman & Wakefield Q3 2026 · CPI Q2 2025 · MAG 2023
A structurally underserved tenant base. A rent premium the segment already commands.
A pilot designed to be replicated.
Engineered for the tenant base traditional industrial fails to serve.
