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November 30, 2023
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Logistics Plus Leases New 1.16 msf Facility in Arizona


In a big AZ industrial lease, Logistics Plus Inc signed a deal for a 1.16 msf building at the Sarival Logistics Center industrial development in Glendale. The building was constructed on a speculative basis and represents the first phase of a larger development which can accommodate over 2 msf of industrial product when fully built.

The building includes many highly valued design and functionality features, including 40’ clear height, 845 auto parking spaces, 409 trailer stalls, 218 dock doors and four drive in dock doors, wide column spacing, ESFR sprinklers, heavy power of 6,000 amps, and LED warehouse lighting.

Situated approximately 25 miles west of Phoenix, Sarival Logistics Center is strategically positioned at the northeast corner of Loop 303 and W Bethany Home Rd in the Glendale area. The property provides immediate access to Loop 303 as well as premier freeway visibility and is within minutes of Interstate 10. The property is also within 30 minutes of two major airports: Phoenix Goodyear and Phoenix Sky Harbor International and is less than 6 hours from the Ports of Los Angeles and Long Beach. The campus is among an abundance of other major corporate logistics users.

Andy Markham, Mike Haenel and Phil Haenel with Cushman & Wakefield represented the landlord in the lease transaction and leads project leasing for the campus. Jeremy Trotter of Foremost Commercial repped the tenant, a worldwide provider of transportation, logistics and supply chain solutions. Terms of the lease were not disclosed.

“This transaction exemplifies the ongoing growth and demand the Phoenix Metro market continues to see from industrial users due to its many benefits plus population growth,” Haenel noted. “And many companies are wanting either new or Class A modern facilities for their operations.”

According to Cushman & Wakefield’s most recent Q3-2022 market report, Phoenix Industrial market vacancy stood at a healthy 4.9% overall and has recorded a robust 17.7 msf of occupancy growth year-to-date. The West Phoenix submarket, where Sarival Logistics Center is located, has recorded nearly 3 msf of occupancy growth year-to-date, among the highest of all local submarkets.

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