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10/02/25
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Dollar Tree Inc purchased a 1.25 msf, Class A industrial building within Park303 logistics park in Glendale, AZ in a deal worth roughly $147 mil ($118/sf). The asset was sold by Lincoln Property Company, the building's developer.
Park303 totals 210 acres and 3.75 msf of industrial space along the Loop 303 at Glendale Ave in Glendale. Built in two phases, it includes a 1.25 msf, single building Phase 1 and a 2.5 msf, three-building Phase 2.
Dollar Tree purchased Park303 Phase 2 Building C. The company will establish a regional distribution center at the site, marking the firm's first regional distribution facility in the metro Phoenix market. Dollar Tree currently operates over 9,000 stores and 18 distribution centers, and employs approximately 150,000 associates, across the U.S. and Canada.
All Park303 Phase 2 buildings are LEED-certified and Foreign Trade Zone-capable, featuring 40’ clear height, 25’ tall glass entries, up to 12,000 amps of power, 7” slabs over 4” of crushed rock, and steel moment frame shear bracing supporting highly modern, automated racking and picking equipment. Together, the buildings offer 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls.
Building interiors are bordered with 5’ x 10’ clerestory windows, providing employees with access to sky views and natural light. The buildings also reflect Lincoln’s “creative industrial” approach to Class A industrial development, incorporating elements often only found in office buildings.
Other Park303 features include high-end speculative office space, an outdoor pickleball and basketball court, and an outdoor entertainment area with gourmet barbeques, overhead fans and seating designed for employee comfort.
At Park303, Dollar Tree joins existing Phase 2 tenant Logisticus Group LLC, a third-party logistics leader leasing the 483.3k sf Building B. Park303 Phase 1 is also fully occupied under a long-term lease by Walmart. The Phase 1 building was sold in 2021 to BentallGreenOak for $186 mil, marking the highest single-building industrial sale price in Arizona history.
Lincoln serves as the property manager and leasing agent for Park303. Dollar Tree was represented by Reid Wilbraham and Cooper Fratt of Cushman and Wakefield. Lincoln is actively fielding lease and acquisition interest for Park303’s remaining building, the 629.8k sf Phase 2 Building A.
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