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8/26/24
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IndiCap and Invesco Real Estate have completed work on Phase 1 of Virgin Industrial Park, a 1.5 msf industrial development in Glendale, AZ. Virgin Industrial Park, slated to consist of five Class A buildings within Phoenix’s sought-after Loop 303 Corridor, is being built by general contractor Graycor Construction Company.
Virgin Industrial Park Phase 1 totals more than 1 msf in three buildings: a 564.3k sf, cross-dock Building A; a 212.2k sf, rear-load Building B; and a 243.4k sf, rear-load Building C, with divisibility options down to 75k sf.
The project sits at 15748 W. Hatcher Rd in Glendale, immediately east of Loop 303 and north of Northern Pkwy, at Olive Ave and Reems Rd.
Buildings feature 32’ to 36’ clear height, dock-high and grade-level doors, generous power, extensive car and trailer parking, up to 70’ speed bays, and fully secured concrete truck courts. Make-ready improvements include spec office space, LED lighting, warehouse HVAC and mechanical pit levelers.
“Virgin Industrial Park is a prime, highly divisible industrial product that meets the market’s need for both large and mid-size space, in one of the industry’s fastest growing industrial corridors,” said IndiCap Vice President of Regional Development Todd Ostransky. “The project’s exceptional location, flexibility and modernity creates a hard-to-beat opportunity that will quickly tee up tenants for long-term growth and success.”
Deutsch Architecture was the project architect. Anthony Lydon, Marc Hertzberg, Riley Gilbert and Kelly Royle with the Phoenix office of JLL are the project’s exclusive leasing brokers.
According to JLL’s Q2 2024 Phoenix Industrial Market Dynamics report, metro Phoenix is currently fielding over 50 msf of active tenant requirements from a diverse range of industries including retail, e-commerce, distribution, logistics, and advanced manufacturing, showing sustained interest in the market and ongoing demand for industrial space.
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