On July 1, NAIOP announced a new name for the organization: the Commercial Real Estate Development Association, or CREDA. According to CREDA, the new branding better communicates the broad scope of commercial real estate work members engage in, such as multifamily housing, retail destinations, logistics and fulfillment facilities, offices, mixed-use developments, data centers and more. To celebrate this new era for the association and honor its past achievements, here is one of the winners of 2026’s Best of NAIOP Awards.
Park303 Phase II
Owner/Developer: Lincoln Property Company | Goldman Sachs
Broker: Lincoln Property Company
General contractor: Layton Construction
Architect: Butler Design Group
Financier: Affinius
Size: 2.5 million square feet
City: Glendale
Details: Park303 Phase II is a $360 million project sitting on 71.5 acres and totaling almost 2.5 million square feet across three one-story buildings: Building A totaling 629,835 square feet, Building B totaling 483,835 square feet and Building C totaling 1.25 million square feet.
With virtually no industrial land remaining along the Loop 303, Park303 is a premier project, fully stabilized in an extremely high-barrier-to-entry location within a Foreign Trade Zone. As the industrial market continues to expand, the development is well positioned for long-term value and returns.
Features: The development combines massive scale with ample power, each building drawing anywhere from 3,000 to 12,000 amps, with underground conduits in place for future expansion. Collectively, the structures at Park303 offer 430 dock doors, 778 trailer stalls and more than 1,556 parking spaces.
These leading-edge manufacturing and distribution capabilities are paired with employee-focused amenities more commonly found in Class A office projects, such as an outdoor pickleball and basketball court. This blend reflects the increasing sophistication of both the Phoenix industrial market and the tenants choosing this location
Challenges: The most significant challenge during development was securing adequate power. Lincoln worked closely with APS to establish a development and delivery plan that provided sufficient electric power throughout construction while allowing an accelerated development schedule. The project ultimately secured adequate power and substantial expansion capacity, making Park303 highly attractive to occupiers.
Lincoln also partnered with two private water companies to build the infrastructure necessary for commercial water and sewer service. After negotiating a cooperating agreement between the utilities, additional coordination ensured commercial water service delivery to Park303.
A further site challenge was approximately 15 feet of elevation/grade change across the property. During construction, a regional shortage of fill dirt made balancing the site difficult. The team implemented a creative solution by excavating a retention basin deeper than required, generating the additional on-site soil needed to achieve a flat site. This approach used native site resources and saved significant development costs.