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Minneapolis-based Ryan Cos., a major real estate player locally, has partnered with Alidade Capital to develop Innovate48 — a 163,000-square-foot Class A industrial building at 4800 E. Washington Street, minutes away from Sky Harbor. Ryan Cos. and Alidade Capital recently formed a joint venture and closed on construction financing to develop the project, which will replace a two-story, 126,048-square-foot office building called the Red Mountain Corporate Center. The company is expected to receive its demolition permit later this week.