8 minute read
BUSINESS
For more business visit glendalestar.com
GlendaleStar.com /GlendaleStar
Lincoln Property Co. sells Park 303 Phase I for $186M
BY LAUREN SERRATO Glendale Star Staff Writer
Within one month of its completion, developer LPC Desert West has completed the sale of the 1.25 millionsquare-foot Park 303 Phase I in Glendale to BentallGreenOak, a global real estate investment management adviser and real estate services provider.
At $186 million, the transaction represents the state’s highest single-building industrial sale price.
Phase I, which has been fully leased to a Fortune 1 retailer, is located on 71 acres fronting the Loop 303 freeway, between Bethany Home Road and Glendale Avenue. It is part of LPC’s larger Park 303 master-planned industrial park, spanning 210 acres and with the capacity to support nearly 4 million square feet of Class A industrial development.
LPC developed Phase I as a two-building speculative development, with the ability to rapidly combine into a single, larger building as market demand required.
“Park 303 was one of the fi rst industrial developments in the state to quickly convert two stand-alone buildings into one larger facility to meet the needs of a major single user,” LPC Desert West Senior Executive Vice President David Krumwiede said. “That fl exibility — along with a premier location and high-tech, high-velocity e-commerce fulfi llment capabilities — is what cemented our full-building lease. Our buyer recognized these advantages and moved quickly to secure the building and its signifi cant long-term value.”
Ed Lampitt, Mike Haenel, Andy Markham and Phil Haenel of Cushman and Wakefi eld represented Park 303’s Phase I tenant. Will Strong of Cushman and Wakefi eld represented LPC on the investment sale. LPC will continue to provide the building’s property management services
“This sale is a true joint effort between Cushman and Wakefi eld and LPC,” LPC Desert West Vice President John Orsak said. “Ed Lampitt and his team coordinated an extremely successful lease process for our Phase I building. When the time came to list the property for sale, keeping that Cushman collaboration going and selecting Will Strong to represent us was a natural choice.”
Park 303 Phase I directly fronts the Loop 303 freeway, offering easy ingress and egress via two full-diamond freeway interchanges, and convenient access to a deep and skilled West Valley labor pool.
Building amenities include 40-foot clear height and steel moment frame shear bracing that allows highly modern, automated racking and picking equipment. Other amenities include 25,000 square feet of Class A offi ce and training space; large breakrooms; and upgraded, fully amenitized outdoor spaces with covered seating, a barbecue station and grass area for games and events.
Employees also benefi t from effi cient LED lighting and more than 140 large clerestory glass windows, which provide access to sky views and shifting natural light, shown to increase productivity and mental focus.
The gated, supply-chain-centric site has full concrete truck courts, ample truck parking and private drives.
Park 303 Phase I was originally developed as a 705,531-square-foot Building A and 488,995-square-foot Building B. To accommodate a major global user, LPC quickly combined the buildings into a single facility.
The project sits within Glendale’s New Frontier District and is 1 mile from the Northern Parkway, a 12.5mile, high-capacity roadway providing rapid connection between the Loop 303 and U.S. 60/Grand Avenue. The connection offers expedited distribution routes and allows employees to avoid common rush hour traffi c delays on Interstate 10.
Corporate neighbors to Park 303 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.
For more information on LPC Desert West and its projects, visit lpcdesertwest.com.
BUYING CASH PAID
PRIVATE INVESTORS IN TOWN WITH $1,000,000 TO SPEND WE PAY WAY MORE THAN DEALERS
Baseball, Basketball, Football Cards (1900-1979) Comic Books (1940-1979) Original Comic Art (1940-1990) Pokemon And Magic The Gathering Cards (1993-1999) Sealed Cases And Boxes Sports & Non-Sports
Lincoln Property Co.’s latest project ranks as the highest single-building industrial sale price in Arizona. (Photo courtesy of Stacey Hershauer)
HAVE BUSINESS NEWS?
MEMBER RENEWALS
The Glendale Chamber of Commerce would like to thank the following members for their support of the chamber and our community.
One year: 2020
• Sonoran Sleep Center • Forrest Anderson Plumbing & Air Conditioning Inc. • Vanguard Veteran • ARIZONA@WORK | Maricopa County • Aventura World • The Renaissance Companies • Belmont Electric • Escape At Arrowhead • Mangat Group Inc. • Colon and Rectal Center of Arizona
Two years: 2019
• Mixx It Entertainment • The Baller Dream Foundation • Avanti Senior Living Assisted & Memory Care • ABD Antique Appraisers • Homes For Heroes • Legacy of Results
Three years: 2018
• Family Care Connections • Modern Acupuncture Village at Arrowhead • Threat Mitigation - Risk Control Group • Academies of Math & Science • Dickinson Enterprises • Trinity Chiropractic • Caliber Home Loans NMLS No. 1146983 • FCI Constructors Inc.
M-F 8-5 • MooreGraphicsAZ.com 11200 W. Wisconsin Ave. • Youngtown, AZ 85363 • 623-972-8161Engineering Copies Print & Scan Color or B/W Engineering Copies Print & Scan Color or B/W
Engineering c opy p rint
Engineering Copies Print & Scan Color or B/W Copies Print & Scan Color or B/W Desi G n Mail s wa G & Moore!
M-F 8-5 • MooreGraphicsaZ.coM
M-F 8-5 • MooreGraphicsaZ.coM11200 W. Wisconsin Ave. • Youngtown, AZ 85363 • 623.972.8161
M-F 8-5 • MooreGraphicsaZ.coM 11200 W. Wisconsin Ave. • Youngtown, AZ 85363 • 623.972.8161 11200 W. Wisconsin Ave. • Youngtown, AZ 85363 • 623.972.8161
“The first thing that people notice about me is my SMILE!!”
Preventative Dentistry, Emergency Care, Restorative, Crowns, , Fillings, Sealants, Mouth Guards, Teeth Whitening, Denture Relines & Repairs No Insurance – NO Problem!! In-House Dental Discount Plan!
Full Service Denture Laboratory On-Site Walk-Ins and Emergencies are Welcome!
* No Appointment Necessary *
Four years: 2017
• College Hunks Hauling Junk & Moving • Valley Schools • Charity Benefi ts Unlimited • Olive Garden Italian Restaurant
Five years: 2016
• Huntington University Arizona Center for Digital Media Arts • A New Leaf Inc.
Six years: 2015
• Glendale Law Enforcement Association • Veterans of Foreign Wars Post 1433 • Arizona Renaissance Festival • Al-Man Auto Body • Legacy Traditional School Glendale • Embry-Riddle Aeronautical University
12 years: 2009
• Citadelle Plaza
14 years: 2007
• Delta Dental of Arizona
24 years: 1997
• Michael Pollack Real Estate Investments
30 years: 1991
• Kiwanis Club of Glendale • Arizona Highways
31 years: 1990
• Glendale Glass
35 years: 1986
• Butler Family Dental
36 years: 1985
• Morton Salt Inc.
EVENTS
The Glendale Chamber of Commerce hosts a variety of events each month to help the business community build stronger connections. We invite you or a member from your team to join us at one of these upcoming events. For more information or to register, visit glendaleazchamber.org or call 623-937-4754.
Marketing Webinar: How to Make Your Advertising Work Together
When: Noon to 1 p.m. Tuesday, October 12 Location: Zoom Virtual Meeting Address: link will be emailed to those registered
Business Over Breakfast
When: 7 to 9 a.m. Wednesday, Oct. 13, Oct. 20 and Oct. 27 Where: Dave & Buster’s, 9460 W. Hanna Drive, Glendale
Business After Hours
When: 5 to 7 p.m. Thursday, Oct. 21 Where: Topgolf, 6101 N. 99th Avenue, Glendale
Fuel
When: 7 to 9 a.m. Friday, Nov. 5 Where: Desert Rose Pizza & Gastropub, 6729 N. 57th Drive, Glendale
Experience Glendale mobile app benefi ts merchants, visitors
BY SHEA KINKEAD
The Glendale Chamber of Commerce has launched a mobile app that helps Downtown visitors navigate their time, allowing visitors to enjoy fun gamifi cation features as they shop and roam the area.
The free mobile app is Experience Glendale and is available for download on Google Play and on the App Store.
It provides the Downtown merchants with a tool to stay connected and allows stores to promote their products and services to gain visibility in the marketplace.
Guests who sign on to the app, which is available to locals and guests 18 and older, can also earn, collect and share uniquely themed achievements, rewarded for experiences both in the app and across Historic Downtown Glendale.
Whether searching for upcoming events or accomplishing an impressive feat while exploring local businesses, guests can use this feature to showcase their Glendale fandom while fi lling their profi le with these special achievements.
NEW MEMBERS
The Glendale Chamber of Commerce welcomes the following members and extends a heartfelt thank-you for their support of the chamber and our community.
AZ Rapid Motor Vehicle Services 602-395-9074 Benevilla 623-584-4999
Dessis Insurance Agency 602-799-9823
Family First Services LLC 928-308-5133
Main Event Entertainment 623-936-5300
Sparkle Momm Marketing 602-687-3770
Westgate Village 480-254-5634
Mission:
The Glendale Chamber serves the business community as the voice of commerce, provides programs and services to improve the economic environment for its members, and supplies leadership for improving the quality of life. For area residents and newcomers, the Glendale Chamber is a reliable source for community information and a dependable resource for business referrals.
BUSINESS • AUTO HOME • LIFE • HEALTH
Dave Mitchell, CIC
(Certified Insurance Counselor) MBA, MA.HR, SPHR, SCP in HR
623.889.731
14239 W. Bell Rd. Ste. 205 Surprise, AZ 85374 7121 W. Bell Rd. Ste. 20 Glendale, AZ 85308 Fax: 623.209.5363 Toll Free: 800.421.9922 Email: dave@idealins.com www.idealins.com
