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8/04/21
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Construction has started on Latitude 303 Logistics, a 54.8-acre, Class A industrial development in Glendale, AZ. The project is being developed by McKinney Investments, Westport Capital Partners and AEW.
Located at the southeast corner of the Loop 303 and Glendale Ave, the development will total 897.3k sf when completed in the first quarter of 2022. It will cater to tenants occupying between 50k sf and 742.7k sf in the West Valley.
Latitude 303 Logistics will include a 742.7k sf building (Building A), featuring 40-foot clear height, 120 dock doors and parking for 409 cars and 125 trailers. The 154.6k sf building (Building B) will include 32-foot clear height, 27 dock doors and parking for 188 cars and 18 trailers. Both buildings will also feature 200-foot deep truck courts, seven-inch thick concrete floors, LED lighting and energy efficient clerestory windows.
CBRE’s Dan Calihan, Rusty Kennedy, James Cohn and Pat Feeney will serve as the exclusive leasing agents for the project.
Latitude 303 Logistics offers extensive interchange visibility along the Loop 303 freeway frontage, unmatched identification opportunities, and nearby access to Interstate 10. The Southwest Valley continues to attract manufacturing, third-party logistics and data centers due to its accessibility to California and the available of labor in the area, according to CBRE research.
The West Valley submarket posted the strongest gains in net space absorption totaling nearly 3.8 msf to close Q1 2021. Walmart, Microsoft, Fairlife, Amazon, UPS, FedEx, Ferrero, Ball Corporation, RedBull and Mark Anthony Brewing have all recently leased space or moved into newly completed build-to-suits in the Southwest Valley.
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