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Lincoln Property Sells Off Last Two Buildings of Glendale Development for Record Price
Lincoln Property Company sold the last two buildings in its four-building, 210-acre Park303 logistics development in Glendale, Arizona for $170,250,000. Nuveen was the buyer. The deal marks the highest two-building sale price in Arizona history.
The transaction also represents the last of four buildings sold at Park303, a 210-acre, 3.75 million-square-foot, LEED-certified logistics campus developed by Lincoln along the Loop 303 freeway and Glendale Avenue in Glendale, Arizona
A previous sale at the development resulted in a record as well.
Completed in late 2020, Park303 Phase 1 totals 1.25 million square feet and is fully occupied under a long-term lease by Walmart. That building was purchased by BentallGreenOak in 2021 for $186 million, marking the highest single-building industrial sale price in Arizona history.
Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase 2 building sales.
- ◦Sale/Acquisition
