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Phoenix & Southwest  + Phoenix  + Industrial  | 

108-Acre Glendale Site Sold, 2.25M-SF Development Planned

Canada-based WPT Industrial REIT acquired a 108-acre industrial development site in Glendale for $23.2 million with plans to develop Sarival Logistics Center. The buyer plans to develop as much as 2.25 million square feet of new Class A industrial product that will be constructed on a speculative basis in multiple phases.

The seller was Loop 303 at Bethany North, LLC, which was represented in the transaction by Cushman & Wakefield’s Andy Markham, Mike Haenel and Phil Haenel.

Markham says, “This is a highly attractive industrial development site in one of the hottest corridors in the Southwest US and that, proximate to multiple freeway routes, offers ideal logistical and transportation access.”

The West Valley site is located at Loop 303 and W. Bethany Home Rd. The total project site also consists of an additional 40-acre site that the buyer acquired in late December. Phase I of the 148-acre Sarival Logistics Center will consist of a single new speculative industrial building totaling 1.1 million square feet that’s scheduled to break ground in early 2021.

For comments, questions or concerns, please contact Dennis Kaiser

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Inside The Story

Connect With WPT Industrial REITConnect With Loop 303 at Bethany North, LLC/Scottsdale Investment ManagementConnect With Cushman & Wakefield’s Markham

About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition
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