The bakery's chiefs bought the land from RBK Development Inc., getting acreage near the intersection of Cotton Center Boulevard and Cotton Gin Loop. Sources familiar with the deal speculate Fairytale Brownies will pay close to $4 million for the build-to-suit, which is scheduled to break ground later this year.

"Their business is growing so they needed more space than the 15,000 sf they have now," says Andy Markham, a vice president with Grubb & Ellis|BRE Commercial LLC in Phoenix. The bakery has operated from 6280 W. Erie St. in Chandler since it was founded in 1992.

Markham tells GlobeSt.com that Fairytale Brownies wanted to move to a more central location in the Valley, but couldn't find any existing space that suited its needs. "Because they're a bakery, they have some specialized needs," he says, citing the need for an abundance of coolers and freezers. Moreover, the company, which bakes brownies from scratch using a secret family recipe, has special water requirements related to its production. "Fairytale Brownies decided it would be more cost effective to build a new building than try to retrofit an existing one," Markham explains.