News Release: No Vacancy: Opus’ Deer Valley 30 Industrial Development Fully Leased

PHOENIX, January 8, 2026 – Opus today announced that the Deer Valley 30 industrial development at 1300 West Almeda Road is now fully leased. The three-building development saw significant activity over the last year, including the sale of one building and the execution of full-building leases in the other two. The development is a joint venture between Opus and Principal Asset Management®.

A global shipping and logistics provider, which moved into 52,000 square feet in Building A in January 2025, has signed a lease for the remaining 54,000 square feet to take full occupancy of the building. Air2O, a global leader in advanced thermal management solutions, signed a lease for all 184,369 square feet of Building B in April 2025. In July 2025, nbpure, a leading manufacturer of natural vitamins and supplements, purchased the 66,000-square-foot Building C to replace its current headquarters and manufacturing facility located just one mile away.

“We were very confident in the potential of Deer Valley 30 when we purchased the land and built this differentiated Class A industrial offering,” said Matt Visnansky, vice president and general manager of real estate development with Opus. “Market interest certainly confirmed our perspective. We’re very happy to see our two remaining buildings fully leased.”

“The successful lease-up of Deer Valley 30 has exceeded our original proforma expectations, with strong tenant demand validating our investment thesis in this submarket. The quality of the tenants reflects the strength of this development,” said Torrie Centeno, asset manager at Principal Asset Management. “Collaborating with Opus on this project has delivered strong results, reinforcing our shared commitment to creating institutional-quality industrial assets.”

Opus was the developer, design-builder and architect of record on the project, which was completed in March 2024. Chris McClurg, Ken McQueen, Blake Peters and Jack Sims with Lee & Associates marketed the available space.

About Opus
Opus is a group of commercial real estate development, design and construction companies headquartered in Minneapolis with offices and projects across the country. Opus operates as a vertically integrated multidisciplinary team with expertise in development, capital markets, finance, project management, construction and architectural services. Opus includes Opus Holding and its operating subsidiaries: Opus Development Company, Opus Design Build and Opus AE Group. Specializing in industrial, multifamily residential, office, retail and institutional projects, Opus offers the unique combination of a design-build project delivery approach driven by a client-centered team of experts and backed by enduring commitment to the community. For more information, visit www.opus-group.com and follow Opus on LinkedIn and Instagram.

About Principal Asset Management®
With public and private market capabilities across all asset classes, Principal Asset Management and its investment specialists look at asset management through a different lens, creating solutions to help deliver client investment objectives. By applying local insights with global perspectives, Principal Asset Management identifies distinct and compelling investment opportunities for more than 1,100 institutional clients in over 80 markets.1 Principal Asset Management is the global investment solutions business for Principal Financial Group® (Nasdaq: PFG), managing $601.6 billion in assets1  including $105.2 billion in real estate assets1, and recognized as a “Best Places to Work in Money Management”2 for 14 consecutive years.  To learn more, please visit www.principalam.com.

[1] As of September 30, 2025 
[2] Pensions & Investments, 2025

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