Provident Scales Sun Belt Industrial Portfolio 🛣️

Table of Contents

• Renewal Strategy Play

• Latest News

• Property Management Upgrade Move

Bridge Renewal with Upside Options

When a tenant has outgrown or undergrown their suite but likes the property, offer a renewal tied to a move within the same building or park. The core idea: solve their size/layout problem on-site, keep the income, and backfill the old space with a cleaner, more marketable configuration.

3 quick steps:

• Match needs to inventory: Identify tenants with space pain (too big, too small, wrong configuration) and map them against upcoming vacancies or combinable suites in the same asset.

• Package the move + renewal: Propose a new 5–7 year lease in the “better fit” space with light TI and standard escalations, in exchange for an orderly giveback of the current space.

• Plan the backfill: Time the relocation so you have a short overlap period, then reposition the old suite as a spec suite, smaller bays, or a higher-rent use based on current demand.

Expected result: 

Higher tenant retention, more efficient space utilization, and a refreshed stack of suites that are easier to lease at stronger economics in the next leasing cycle.

🏗️ $80M Aldea Exchange Breaks Ground in 2026, 471K SF on Tap

Provident Industrial bought 27 acres to build Aldea Exchange, a three-building, 471,439-square-foot industrial park in Phoenix. Construction starts in Q3 2026, with a tentative May 2027 delivery, adding capacity in the Southwest Valley where 2025 deliveries hit 14.0 million square feet and vacancy is 8.2 percent, below the 9.5 percent U.S. average. See full article.

Why this matters (fast take):

• 📍 Site & Scale: Provident Industrial bought 27 acres to build three rear-load industrial buildings totaling 471,439 SF, strategically near Loop 101, 17 miles from downtown, and one mile from Walmart and Home Depot.

• 📈 Timeline & Market: Construction starts Q3 2026 with tentative May 2027 delivery; Southwest Valley vacancy is 8.2%, below the U.S. average of 9.5%, signaling strong demand.

🏗️ Omaha Bets on 2026: Industrial Booms, Office Builds Stay Selective

Omaha’s commercial market stayed resilient in 2025, and brokers expect 2026 to be busier. Investors Realty’s Jeanette Weber sees industrial and logistics leading with historically low vacancy, while 1 to 1.6 million square feet of office remains under construction. A proposed downtown soccer stadium could break ground in 2026 and open in 2028, adding fuel for mixed-use growth. See full article.

Fast move:

• 🏗️ Strategic Sector Growth: Industrial logistics are thriving due to record-low vacancy, while office development remains selective, focusing on 1.6 million square feet of high-quality, well-located projects.

• 🏟️ Stability & Major Catalysts: New landmarks like the Union Omaha stadium and airport upgrades are driving mixed-use expansion, supported by disciplined lending that prevents oversupply and keeps rents stable.

🏗️ Bloomingdale’s $78M Mall Makeover Lands First Tenant for 2027

Bloomingdale’s plan to turn Stratford Square into an open-air district just notched its first tenant and fresh financing. Demolition is done, public-space work starts next year, and a 100,000-square-foot indoor sports complex aims to open in 2027. The unlock is speed and sequencing, with bonds funding infrastructure and early anchors drawing restaurants, retail, and housing. See full article.

Fast move:

• 🧩 First Tenant & Phase One: A 100,000 SF indoor sports complex opens in 2027 near Kohl’s, marking the start of the open-air redevelopment.

• 💵 Financing & Development: The village issues $52M in infrastructure bonds, with 280 luxury apartments under review; site work includes a man-made lake and event lawn.

Vendor Compliance & COI Tracker

Most buildings still track vendor insurance, licenses, and contracts in scattered folders and inboxes. That means expired COIs slip through, uninsured vendors work onsite, and owners carry hidden risk if something goes wrong. A simple vendor compliance tracker closes that gap in a quarter or two.

3 Steps to Roll this Out:

• Centralize the list: Export all active vendors from AP and build a single list with contacts, services, contract dates, and required insurance/credentials.

• Implement a tracker: Use a simple shared sheet or PM platform to log COI dates, limits, additional insured language, and auto-reminders for expirations 30–60 days out.

• Enforce “no work without compliance”: Train staff and security not to schedule or grant access to vendors whose insurance or licenses have expired in the tracker.

Expected result: 

Within 1–2 quarters, you’ll have all vendor compliance in one place, fewer scramble moments around expired COIs, and a materially tighter risk profile with minimal additional operating cost.

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