Lincoln Property Co. has accomplished Park303’s second part in Glendale, Ariz. Artistic facilities together with pickleball and basketball courts are elevating the bar for metro Phoenix industrial area. Picture courtesy of Lincoln Property Co.
Lincoln Property Co. has added almost 2.5 million sq. toes of business area to the Glendale, Ariz., market. The agency’s southwestern U.S. division, LPC Desert West, accomplished Park303’s second part, after beginning development on the venture in March 2022.
Park303’s newest and remaining element totals three Class A industrial services, together with the 629,835-square-foot Constructing A, the 483,835-square-foot Constructing B and the almost 1.3 million-square-foot Constructing C. In line with Lincoln Property Co., buildings A and B may be mixed right into a single construction totaling greater than 1.2 million sq. toes.
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The developer constructed every of the brand new buildings with 40-foot clear heights, 25-foot glass entries and three to 12,000 amps of energy with chance for enlargement. Mixed, all three buildings complete 430 dock doorways, 778 trailer stalls, and greater than 1,556 parking stalls. The buildings’ facilities embody a speculative workplace suite, an leisure space, pickleball and basketball courts, barbecue areas and out of doors seating.
With the supply of the second part, Lincoln Property Co. has formally accomplished Park303, which affords greater than 3.7 million sq. toes of Class A industrial area on a 210-acre website. The agency broke floor on the primary part, a 1.3 million-square-foot constructing, in March 2020 and has since landed a long-term lease with Walmart and bought the constructing to BentallGreenOak for $186 million.
Park303’s buildings are positioned a mile away from Northern Parkway, which affords fast entry to Loop 303 and Grand Avenue. Company neighbors within the space embody Boeing, Microsoft, UPS and Crimson Bull.
Industrial enlargement to the west
Whereas Lincoln Property Co. maintains a presence in additional than 45 U.S. cities, LPC Desert West relies in Phoenix and has been working since 2001. To this point, the agency’s regional arm has acquired greater than 6 million sq. toes and has lined up a improvement pipeline totaling 15.5 million sq. toes.
In addition to Park303 venture, LPC Desert West has been engaged on a $515 million industrial venture that’s additionally in Glendale, Ariz., and can complete 2.4 million sq. toes. The Class A facility referred to as Luke Area broke floor in October. Earlier within the 12 months, LPC Desert West additionally started development on Windsor Commerce Park, a 1.6 million-square-foot industrial campus in northern Las Vegas that’s anticipated to come back on-line within the third quarter of 2024.
