Full-service commercial real estate firm Lincoln Property Company (Lincoln) today announced that a global 3PL provider has signed a full-building, 629,835-square-foot lease at Park303 in Glendale, Arizona. The commitment brings the 210-acre, 3.75 million-square-foot, LEED Certified industrial project to fully leased.
The new tenant will lease all of Park303 Building A, using its new space to service a Fortune 250 client.
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Located along the Loop 303 at Glendale Avenue in Glendale, Arizona, Park303 includes a 1.25 million-square-foot, single building Phase 1 and a 2.5 million-square-foot, three-building Phase 2.
Phase 1 is fully occupied under a long-term lease by Walmart and was purchased by BentallGreenOak in 2021 for $186 million, marking the highest single-building industrial sale price in Arizona history.
Phase 2 is now also fully occupied, with Logisticus Group LLC leasing the entire 483,300-square-foot Building B, and Building C sold in October 2025 to Dollar Tree for $147 million. Dollar Tree will fully occupy Building C, using the space for the company’s first regional distribution facility in metro Phoenix.
“The success of Park303 proves that Phoenix is competing and winning at the highest levels of the industrial and logistics markets,” said Lincoln Property Company Executive Vice President John Orsak. “It is also a powerful validation of the project’s caliber, which is something we’re very proud of. We welcome our newest tenant to Park303, and all of the tenants who have committed to this campus, and look forward to their future here.”
Park303 follows Lincoln’s “creative industrial” approach to Class A industrial development, incorporating expanded amenities often only found in office buildings. At Park303, this includes high-end speculative office space, an outdoor pickleball and basketball court, and an outdoor entertainment area with gourmet barbeques, overhead fans and seating designed for employee comfort.
This expanded amenity package adds to Park303’s market-leading, LEED-Certified buildings, where features include 40’ clear height, 25’ tall glass entries, up to 12,000 amps of power, 7” slabs over 4” of crushed rock, and steel moment frame shear bracing supporting highly modern, automated racking and picking equipment.
Building interiors are bordered with 5’ x 10’ clerestory windows, providing employees with access to sky views and natural light. Together, the buildings offer 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls.
“Park303 represents a new generation of industrial development, delivering operational excellence while also elevating the employee experience,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “Today’s top users are looking for environments that support long-term efficiency and the greatest employee attraction and retention. This campus was designed to meet those expectations at the highest level.”
The logistics campus is situated between two full-diamond Loop 303 freeway interchanges, creating quick access to nearby Interstates 10 and 17, and Northern Parkway. The project is also Foreign Trade Zone-capable, able to reach more than 33 million consumers within a one-day truck haul.
Park303 continues Lincoln’s robust development, leasing and sales activity within the metro Phoenix industrial market. This includes the newly delivered, 2.4 million-square-foot Luke Field, where Walmart has purchased one of three buildings for $152 million, marking Arizona’s largest industrial building sale of 2025.
Luke Field also recently achieved LEED Gold v4 certification for a Core & Shell and Warehouse Distribution Center. This makes the project Arizona’s highest-scoring LEED industrial building, surpassing Park303 Phase 2 (which previously held this number one ranking) by just one point.
In 2025, Lincoln and Harvard Investments delivered Goodyear AirPark Phase I, which totals 1.6 million square feet in six Class A industrial buildings located directly south of Phoenix-Goodyear Airport and near Goodyear Civic Square. The project’s next phase is underway – a retail component called Estrella Gateway, offering 15 pads designed to accommodate full-service retail tenants.
Lincoln serves as the property manager and leasing agent for Park303, Luke Field and Goodyear AirPark. At Park303, the new Building A tenant was represented in its lease by Marc Hertzberg, Kelly Royle, Charlotte Elstob and Dan McGillicuddy from JLL.
To discuss leasing and development opportunities with Lincoln, call Krumwiede or Orsak at (602) 912-8888.
