Glendale’s MG Business Park plans 36 industrial condo units as owner-occupied space demand grows locally
A shift from leasing to ownership in small-bay industrial
A planned industrial condominium development in Glendale is aiming at a growing segment of small and midsize businesses looking to purchase workspace rather than sign long-term leases. The project, called MG Business Park, is set for an 8.5-acre site at the southeast corner of Glendale Avenue and New River Road and is designed as a multi-building, small-bay industrial campus.
The development is planned with 36 individual units across five buildings, totaling more than 84,000 square feet. Unit sizes are projected to range from roughly 1,440 square feet to about 14,700 square feet, positioning the project to serve owner-users with varying operational needs—from contractors and specialty trades to light manufacturing, warehousing, and distribution.
Location and approvals
The site sits in Glendale’s west-side growth corridor, with access positioned near Loop 101 and regional routes that connect to Interstate 10 and Loop 303. The parcel is identified as being zoned for light industrial use under the city’s unified zoning framework, which establishes parameters for permitted land uses and development standards.
Project planning is moving through city review processes associated with industrial development and site design. Construction has been described as targeted to begin in early 2026, with delivery expected in late 2026, reflecting a timeline consistent with mid-scale industrial construction schedules.
What is being sold and how it is configured
Unlike traditional multi-tenant industrial properties that are leased to occupants, industrial condominiums are sold as individual units, typically governed by a condominium association. At MG Business Park, pricing has been marketed in the range of $325 to $350 per square foot, with a mix of “shell” deliveries and options that include built-out office components.
Industrial condominium projects are structured to provide businesses with real estate ownership, while retaining the functionality of warehouse and flex space.
Planned unit specifications include industrial features commonly required by owner-users, such as grade-level doors, three-phase power capacity, and shared circulation designed to accommodate truck access.
Market context: industrial supply, vacancy, and small-bay resilience
The Greater Phoenix industrial market has experienced elevated construction deliveries in recent years, contributing to fluctuations in vacancy even as absorption has remained significant. Market reporting in 2025 indicated vacancy levels moving around the low double digits during periods of heavy new supply, with subsequent quarters showing tightening as leasing activity absorbed space.
Within that broader industrial cycle, smaller-bay and infill-oriented assets have been described as comparatively resilient. Industrial condos are one response to that demand profile, offering businesses an alternative path when leasing costs, renewal uncertainty, or limited availability of smaller units becomes a constraint.
What comes next
- Finalization of design and permitting through municipal review steps
- Construction start targeted for early 2026
- Expected project delivery late 2026, with units marketed for sale during the development phase
If delivered as planned, MG Business Park would add a for-sale small-bay industrial product type in a submarket where large-format logistics development has been a dominant theme, broadening the range of options for local owner-users seeking to control long-term occupancy costs through ownership.