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6/23/26
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Partners Group and ViaWest Group have secured $122 mil in bridge financing for The Base, a newly constructed, seven-building industrial campus totaling 1.18 msf in Glendale, AZ. The two companies own The Base through a joint venture, with Partners Group holding a majority stake in the JV.
The Base features premium specifications that include 32-foot to 36-foot clear heights, heavy-power capabilities ranging from 3,000 to 6,000 amps, ESFR sprinkler systems and R-38 roof insulation. The campus is designed with optimal truck circulation, accommodating 222 dock-high doors, 39 grade-level doors, 105 trailer parking spaces and 1,363 automobile parking spaces.
The property offers exceptional operational flexibility with the ability to accommodate single or multi-tenant configurations across varying suite sizes. Construction of all buildings and make-ready tenant improvements was completed in early 2026.
Strategically positioned at the northwest corner of Litchfield Rd and Bethany Home Rd, The Base benefits from superior connectivity to the Greater Phoenix Metro through Loop 303, Loop 101 and Interstate 10. The location provides access to major West Coast markets including Los Angeles, San Diego and Las Vegas, reaching a combined population exceeding 30 million within a single day's drive time. The campus sits within five miles of Glendale Municipal Airport, 7.5 miles from Phoenix-Goodyear Airport and 26 miles from Phoenix Sky Harbor International Airport.
The campus benefits from immediate proximity to Luke Air Force Base, which generates $2.8 bil in annual economic impact and employs more than 7,000 military and civilian personnel. This positioning creates natural synergies for defense contractors, aerospace suppliers and specialized service providers requiring close coordination with military operations. The Base is also surrounded by retail amenities and sits within a labor pool that includes 288,000 households in a 10-mile radius.
A JLL Capital Markets team led by President Kevin MacKenzie, Senior Director Jason Carlos and Senior Analysts Lilley Kroll and Ross Jorgensen arranged the financing. It was funded through Pacific Life Insurance Company.
"The debt markets continue to present an unmet supply of capital for well-sponsored opportunities — particularly in favorable markets like Phoenix," said MacKenzie. "Lenders are actively deploying into lease-up scenarios backed by experienced sponsors, and we're seeing access to capital that extends runway to execute the business plan, reduces cost of capital and funds the leasing costs needed to stabilize. The Base is precisely the type of opportunity that attracts that conviction."
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