Phoenix & Southwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Westcore Acquires 900K SF Glendale Business Park
A Cushman & Wakefield team arranged $73.3 million of debt, enabling Westcore to acquire a newly constructed 906,000 square foot industrial park in Glendale. Westcore acquired Hatcher Industrial, a two-building Class A project. The project, built on a speculative basis, is still vacant.
Situated on 53.5 acres, Hatcher Industrial provides a strategic location within the highly sought-after Loop 303 Corridor of the Southwest Valley of Metro Phoenix, one of the fastest growing and strongest performing industrial markets in the country. The project is adjacent to the BNSF Railroad and provides efficient access to all major West Coast distribution hubs and is surrounded by major corporate users and Fortune 500 companies.
“This was one of the most competitive debt marketing processes we’ve seen this year,” said C&W’s Brian Share. “The story, deal profile, and sponsorship really resonated with lenders despite the capital markets headwinds. We’re thrilled with the outcome for Westcore.”
