Virtua Partners announced today that it has received rezoning approval from the Phoenix City Council on a 20.13-acre development site located at the southwest corner of 103rd Avenue and Buckeye Road. The zoning was changed from a mix of commercial and residential to commerce park. Virtua Partner Affiliate Quyp Development plans to develop the site for light industrial uses. Virtua purchased the site in April of this year.
“Industrial market conditions continue to improve in Phoenix, and this project is positioned to benefit from the growth of the West Phoenix industrial corridor,” said Quyp Development President, Nick Montague. “We are excited about this project and appreciate the cooperation and support of the City Council and Planning and Zoning Commission.”
About Virtua Partners:
Virtua Partners is a private equity firm specializing in commercial real estate. Virtua sponsors a variety of investment funds and commercial real estate projects across the United States and currently has 16 million square feet of assets under management or development.
Our investment products range from fixed income to aggressive growth in a variety of asset types including office, flex office, industrial, hospitality, single family residential, multi-family and mixed-use projects. Virtua Partners and its affiliates provide debt and equity origination, asset and property management, debt restructuring, commercial real estate development, and fund management.