Bethany Bay secures first prelease ahead of Q4 delivery

Located at 16830 W. Bethany Home Road, Bethany Bay is a two-building industrial development designed to serve small- and mid-sized businesses seeking modern, adaptable industrial space in one of the fastest-growing submarkets in metropolitan Phoenix. The project will offer suite sizes ranging from approximately 4,500 to 18,000 square feet, providing a unique solution for companies that have historically faced limited options in the market for quality shallow-bay industrial space in the supply-constrained West Valley submarket.

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CSCE has pre-leased 4,830 square feet at Bethany Bay, becoming the project’s first tenant.

“Securing our first pre-lease at Bethany Bay well ahead of delivery reflects the significant demand we’re seeing for modern shallow-bay industrial space in the West Valley,” said Mike Chernine, CEO of IndiCap. “Together with our partners at VAC Development, we set out to create a project that addresses a longstanding gap in the sub-market for small and mid-sized businesses seeking high-quality, flexible industrial space that simply doesn’t exist elsewhere in the Loop 303 corridor. This first lease is an encouraging validation of that vision.”

Bethany Bay was developed to address a longstanding shortage of high-quality shallow-bay industrial space in Phoenix’s rapidly growing West Valley. With limited inventory available for users requiring less than 20,000 square feet, the project is designed to provide versatile industrial space for businesses seeking efficient facilities in a strategic location along the Loop 303 corridor.

“Bethany Bay was conceived to fill a critical need in the market for new industrial space that accommodates growing businesses without requiring a large footprint,” said Devon Sansone, principal at VAC Development. “This initial lease demonstrates that businesses are actively seeking high-quality shallow-bay industrial space, and we’re encouraged by the strong response well before project delivery.”

Newmark brokered the transaction, representing both ownership and CSCE, a privately held company that became Bethany Bay’s first tenant with a 4,830-square-foot pre-lease.

According to Todd Ostransky, Partner and Vice President of Development at IndiCap, the project’s early leasing activity reflects sustained demand among growing businesses seeking high-quality industrial space in strategic locations.

“Bethany Bay was designed specifically for users that have historically had limited options in the market,” Ostransky said. “With suite sizes ranging from approximately 4,500 to 18,000 square feet, state-of-the-art building systems and convenient access to the Loop 303 corridor, the project offers an attractive solution for businesses that need efficient, functional space without committing to a larger industrial footprint.”