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July 5, 2020
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Draftsmen & Craftsmen

6/05/20

The Southwest Division of Graycor Construction Company has been selected as the general contractor for Phase I of Glendale 303 (G303), a Class A industrial development that, at build-out, will total up to 1.2 msf. The project is situated along the booming Loop 303 corridor in Glendale, AZ.

G303 is being developed by international real estate firm Hines and funds managed by Oaktree Capital Management LP (Oaktree). The industrial park will be constructed in two phases, with two buildings each totaling 569.5k sf. To meet the space needs of a major tenant, G303 has the flexibility to transform into a single, 1.2 msf building.

As the Phase I general contractor, Graycor will manage grading for the full project site and build G303’s first building. The company will begin construction for Phase I on time this July, and complete during the first quarter of 2021.

“Demand for freeway-fronting, logistics-focused product remains at an all-time high in Phoenix and across the U.S.,” said Todd Ostransky, Graycor Construction Company Vice President of the Southwest Division. “G303 is being built to meet that demand head on, with the amenities that tenants need now to satisfy exponential e-commerce and distribution activity.”

Located immediately off the Loop 303 Fwy between Glendale Ave and Bethany Home Rd, G303 will offer 40-foot clear height, 60-foot speed bays and 80 dock-high loading doors within highly functional footprints and with a sleek exterior design. Phase I alone will be able to accommodate more than 550 cars.

The architect for G303 is Ware Malcomb. Bill Honsaker and John Lydon with JLL and are the project’s exclusive leasing brokers.

According to the latest JLL Industrial Insight report, the metro Phoenix industrial market closed out first quarter 2020 with a 6.7% vacancy rate – the lowest recorded since 2008 – with the Southwest Valley submarket accounting for 75% of the market’s total absorption for warehouse and distribution space.




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