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8/27/26
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The final two buildings at Lincoln Property Company’s Park303, a four-building, 210-acre industrial development in Glendale, AZ, have been sold. The assets, consisting of Phase 2 - Building A, totaling 629.8k sf and fully leased to DHL, and Phase 2 - Building B, totaling 483k sf and fully leased to Logisticus Group LLC, were acquired by Nuveen Real Estate in a deal valued at $170.25 mil ($153/sf).
The LEED-certified Park303 logistics campus, totaling 3.75 msf of space, is situated along the Loop 303 Fwy and Glendale Ave. Completed in 2025, Park303 Phase 2 encompasses three buildings totaling 2.5 msf. The project’s Building C sold in October 2025 to Dollar Tree for $147 mil, establishing the company’s first regional distribution facility in metro Phoenix.
Completed in late 2020, Park303 Phase 1 totals 1.25 msf and is fully occupied under a long-term lease by Walmart. That building was purchased by BentallGreenOak in 2021 for $186 mil, marking the highest single-building industrial sale price in Arizona history.
Buildings at Park303 feature 40’ clear height, 25’ tall glass entries, up to 12,000 amps of power, 7” slabs over 4” of crushed rock, and the steel moment frame shear bracing needed to support highly modern, automated racking and picking equipment. Large 5’ x 10’ clerestory windows also run along the building’s interiors, providing employees with access to sky views and natural light.
Following Lincoln’s “creative industrial” approach to Class A industrial development, Park303 also incorporates elevated amenities including high-end speculative office space, an outdoor pickleball and basketball court, and an outdoor entertainment area with gourmet barbeques, overhead fans and seating.
Park303 is proximate to two full-diamond Loop 303 freeway interchanges, Interstates 10 and 17, and Northern Parkway. The project is also Foreign Trade Zone-capable and can reach more than 33 million consumers within a one-day truck haul.
Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase 2 building sales.
“Park303 has been a resounding success by every measure,” said Lincoln Senior Executive Vice President David Krumwiede. “We launched the project during the uncertainty of the pandemic, but its strategic location, best-in-class amenities and flexible mix of leasing and ownership opportunities quickly distinguished the development, attracting leading tenants and ultimately making the buildings highly desirable institutional investments.”
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