Success of Kentwood Ventures development underscores depth of Arizona industrial demand
PHOENIX, (Nov. 9, 2026) – The Phoenix Office of JLL today announced that it has signed the final lease at KV Casa Grande, bringing the newly constructed, Class A Central Arizona industrial development to fully leased. A project by Kentwood Ventures, KV Casa Grande’s leasing pace reflects a rising demand for Class A industrial space in outlying submarkets as metro Phoenix industrial activity continues to expand.
With the latest JLL lease, the project is now fully occupied by four tenants serving the health care, packaging, HVAC distribution and logistics sectors:
- American Refrigeration Supplies Inc. (ARS), which committed to KV Casa Grande prior to the project’s completion with a 50,000-square-foot prelease.
- A Fortune 100 healthcare manufacturer, leasing 148,296 square feet as anchor tenant.
- Graham Packaging, a leading plastic containers manufacturer, leasing 49,537 square feet.
- A to Z Destinations, an Arizona-based freight company and the final tenant to commit to the project, leasing 66,803 square feet.
“We built KV Casa Grande on spec because we believed in Central Arizona’s growing role in the state’s industrial ecosystem, its demand and its needed supply,” said Kentwood Ventures Principal Jim Zemezonak. “We enjoyed strong activity from the start and achieved a fully occupied property within the same timeline any similar project in Maricopa County would. That confirmed the demand for high-quality, forward-looking Arizona industrial space in areas that fall outside of Phoenix’s industrial center. It has empowered KV Casa Grande and more than validates our development thesis.”
Built to institutional quality standards, KV Casa Grande features 32-foot clear height, 33 dock-high doors, 12 grade-level doors, ESFR sprinklers, LED lighting, a 185-foot concrete truck court and 6,000 amps of power.
It is the fourth development by Kentwood Ventures in Arizona, which also developed KV Buckeye, a 249,600-square-foot, two-building industrial complex in Buckeye, Arizona, a 100,000-square-foot complex in Flagstaff called Flagstaff Innovation Park, and Kentwood 303, a 272,000-square-foot industrial/flex development in Glendale, Arizona. Both projects were sold to institutional investors.
JLL Vice Chairman Anthony Lydon, Executive Managing Director John Lydon, Executive Vice President Hagen Hyatt, and Vice President Kelly Royle are the exclusive leasing brokers for KV Casa Grande.
“Casa Grande has become a natural fit for companies supporting the major industrial users moving into metro Phoenix,” said Hyatt. “It offers roughly the same drive time from Sky Harbor as Buckeye, while providing closer access to Tucson, San Diego and Mexico, and keeping Los Angeles and the Inland Empire in easy reach. Companies are recognizing the strategic value of that location, coupled with a lower cost of doing business, and the result has pushed industrial vacancy rates to virtually zero.”
Pinal County is Arizona’s fastest-growing county. It is strategically positioned between Phoenix and Tucson, with an employer base that draws workers commuting from both metro areas, and typical home values that fall approximately 22% below Phoenix.
KV Casa Grande capitalizes on these advantages, as well as a location that is within minutes of Interstates 10 and 8, and proximate to other major manufacturers and suppliers including Air Products, Kohler, Frito-Lay, Lactalis and others.
An additional 19 acres remains at the KV Casa Grande site, where Kentwood Ventures anticipates it will develop a second phase of the project.