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2/26/25
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LBA Logistics has acquired Echo Park 303 – Building A, a newly built, 220.2k sf Class A industrial building on 13.7 acres in Glendale, AZ. The structure is 100% leased to HubStarr Logistics.
Situated in Phoenix’s booming Loop 303 industrial corridor in the Southwest Valley submarket, the freestanding building is located at 9701 North 151st Ave. The asset is part of a larger 38.6-acre industrial business park that includes a second Class A building containing 456k sf.
Cushman & Wakefield’s Will Strong, Molly Hunt, Michael Matchett, Madeline Warren, and Jack Stamets of the firm’s National Industrial Advisory Group—Mountain West represented the seller, Echo Real Estate Capital Inc, in a joint venture with Grandview Partners. The project was originally designed by LGE Design Build. The price was not immediately disclosed.
“This is a top-tier industrial asset with strong institutional appeal, thanks to its long-term single tenancy and solid stability. The building stands out as a true Class A facility with cutting-edge design, excellent functionality, and easy freeway access. Plus, being in a prime market alongside major global companies, it’s well-positioned for continued value growth—making it a great addition to the buyer’s expanding industrial portfolio,” said Strong.
According to Cushman & Wakefield’s latest Q4 2024 market report, the Southwest Valley recorded a substantial 12.8 msf of occupancy growth in 2024, outperforming all other submarkets in the Phoenix Metro area by a wide margin. The next best submarket performance was the Northwest Valley with roughly 5 msf of occupancy gains in 2024.
“The Southwest Valley is seeing a surge in demand for warehouse and logistics space, thanks to its prime location near major transportation hubs like rail lines and the I-10, I-17, Loop 101, and Loop 202 freeways,” added Hunt. “Plus, with the Southern California ports just a six-hour drive away, it’s an ideal spot for companies looking to streamline distribution and logistics.”
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