VanTrust Real Estate, LLC (VanTrust), a national commercial real estate development company, has completed the acquisition of 66 acres in one of the most active industrial submarkets in the Western United States, the Loop 303 corridor in Glendale. The sale price was $11,500,000, according to Vizzda.
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The 66-acre parcel is located at the southwest corner of Northern Ave. and Reems Rd. It is ideally situated less than a mile east of the Loop 303 and a half-mile south of the Northern Parkway. In addition to its prime location, the parcel has been annexed into the City of Glendale and is zoned for industrial development and entitled for more than 1 million square feet of product.
“We are thrilled to announce the acquisition of this 66-acre site along the Loop 303 corridor,” said VanTrust Senior Director of Development Jenna Borcherding. “The submarket continues to be one of the top destinations for industrial prospects looking for space to relocate or expand their operations. This is familiar territory for our team, and we’re ready to build upon our success in Glendale.
This latest acquisition in Glendale will allow VanTrust to expand its diverse development portfolio in the Southwest. VanTrust, who was named national Developer of the Year by NAIOP, is nearing completion of VT 202, a two-building, 181,000 square foot infill industrial development in west Phoenix. Daikin Comfort Technologies, a worldwide leader in residential and commercial HVAC, will soon occupy the park. Joseph Cooper of SRS Industrial represented Daikin on the lease.
VanTrust is also set to complete approximately 1.8 million square feet, which includes three buildings, at their Vantage North project in North Las Vegas, Nevada. Saddle Creek Logistics will occupy the first building in December.
For information on any of VanTrust’s projects in the Southwest, visit www.VanTrustre.com
