NAIOP Arizona Owner/Developer of the Year Lincoln Property Company (LPC) joined with local dignitaries and guests today to break ground on the first building at Park303, a major industrial master-planned development that at build-out will accommodate up to 4.5 million square feet of ultra-modern, freeway-fronting Class A industrial space in Glendale, Arizona.
Phase I of Park303 will sit on 71.5 acres between the Loop 303 freeway and Sarival Road, north of Bethany Home Road and south of Glendale Avenue. The $115 million development will support two buildings totaling 705,531 square feet and 488,995 square feet, or can combine into a single building totaling more than 1.25 million square feet.
“Park303 rivals the most contemporary industrial space in the Western U.S. while also offering the greatest flexibility in one of the hottest industrial locations in the U.S.,” said Lincoln Property Company Executive Vice President David Krumwiede. “It gives industrial users space that can be customized quickly from two buildings into one, allowing it to support multiple tenants or quickly adjust to support a single, major tenant requirement. It is an exceptional product in an exceptional location.”
“We are honored to have NAIOP’s Developer of the Year investing in Glendale in such a significant way,” said Glendale Mayor Jerry Weiers. “Lincoln has a superb reputation in the community and we look forward to welcoming top-level tenants to these state-of-the-art facilities.”
Features of Park303 Phase I will include 40-foot clear height, steel moment frame shear bracing, efficient LED lighting and 142 large clerestory glass windows to maximize natural light. The gated site provides full concrete truck courts, ample truck parking, private drives and fully amenitized outdoor spaces with covered canopies, seating and barbeques.
Phase I is part of the larger Park303 master-planned industrial park that LPC is developing in conjunction with Roth Development Corporation and Scottsdale Investment Management LLC. Totaling 265 acres, the project will have freeway signage opportunities via one full mile of freeway frontage, easy ingress and egress via two full-diamond Loop 303 interchanges at Bethany Home Road and Glendale Avenue, and access via frontage on Sarival Road.
The park sits within Glendale’s New Frontier District, an area along the Loop 303 designated by the City of Glendale for significant economic development. It is also one mile from the Northern Parkway, a new 12.5 mile, high-capacity roadway providing rapid connection between the Loop 303 and US 60/Grand Avenue. With this connection, users at Park303 can avoid common rush hour traffic delays on Interstate 10, helping them to meet critical morning and evening delivery requirements.
Corporate neighbors to Park303 include Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, Red Bull, Ball Corporation and Aldi, as well as hundreds of new residential homes.
Butler Design Group is the project architect for Park303 Phase I and Hunter Engineering is the civil engineer. Willmeng Construction is the general contractor. Completion of Park303 Phase I is scheduled for completion during the fourth quarter of 2020.
For lease or sale inquiries on Park303, contact David Krumwiede, John Orsak or Nick Nudo at Lincoln Property Company, 602.912.8888.
