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RED Development Acquires Phoenix Property for $28.6 Million Industrial Revamp
RED Development has acquired a north Phoenix office complex from Dimension Financial & Realty Investments for $28.6 million.
The site, which sits on approximately 28 acres off Interstate 17 and Thunderbird Road, was previously the tech campus for General Electric and later Honeywell.
plans to redevelop the property into an industrial park, demolishing two vacant office buildings that total over 500,000 square feet.
The site is part of a larger 160-acre redevelopment area called Metro North Corporate Park, which Dimension acquired in 1994.