Majestic Realty Co. has acquired a 30-acre land site in the Loop 202 area. The site is one of the last remaining development sites in the southwest Phoenix submarket.

Located at the intersection of 55^th Avenue and the lower Buckeye 202 off-ramp will be home to a more than 502,000-square-foot speculative industrial building scheduled to break ground in the first quarter of 2020, according to company officials.

Called Majestic 55, the development will bring state-of-the-art warehouse and distribution amenities not typically seen in properties located within this built-out submarket. Divisible to as many as six users, the building will offer 36-foot clear heights, cross-dock loading, a secure truck courtyard with 138 trailer parking spots and additional parking for automobiles. With anticipated completion in January 2021, the location will provide direct highway access and high visibility for building users.