RED Development pays $28.6M for former General Electric campus off Interstate 17

Article originally posted on Phoenix Business Journal on September 9, 2026

Phoenix-based RED Development scooped up a north Phoenix office complex poised for a conversion into an industrial park on September 3, according to Maricopa County property records.

The site is off Interstate 17 and Thunderbird Road and is currently home to two vacant office buildings totaling over 500,000 square feet. In the 1960s it was a tech campus for General Electric, and then later for Honeywell, according to planning documents filed with the city of Phoenix.

RED Development spent $28,590,325 for the property – which sits on about 28 acres – purchasing it from Dimension Financial & Realty Investments. Ray Cashen with Cashen Realty Advisors represented both the buyer and the seller in the deal.

Dimension recently set the site up for an office-to-industrial conversion called Canyon Commerce Center, which will include three buildings amounting to 62,268 square feet, 152,889 square feet and 236,735 square feet to be constructed once the existing buildings are demolished.

RED primarily focuses on mixed-use, office and retail developments throughout the Valley, and has been involved in several notable projects such as Biltmore Fashion Park, Camelback Colonnade, the Village at Prasada in Surprise, GSQ in Goodyear and Block 23 in downtown Phoenix. No industrial projects are currently listed in its portfolio online.

RED declined to comment for this story.

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