A just-completed Glendale, Arizona warehouse has been sold for $82.6 million. CRG sold Building E at the Cubes at Glendale, a 570,000 square foot Class A industrial warehouse to Fundrise. A Cushman & Wakefield’s Equity, Debt & Structured Finance team headed up by Rob Rubano represented Fundrise in the procurement of $58.0 million in acquisition financing.  The building was built speculatively in 2022 and completed in January of this year.

Upon completion, The Cubes at Glendale industrial park will feature 5.5 million square feet of Class A industrial space at the Reems Road and Northern Avenue intersection. In 2022, CRG successfully completed construction on Building A, a 1.2-million-square-foot industrial building leased to Williams Sonoma and sold to LaSalle Investment Management, and Building D, a 637,000-square-foot industrial building sold to US Merchants.

CRG is also developing The Cubes at Mesa Gateway, a 268-acre master-planned industrial park that will bring up to 4 million square feet to the Southeast Valley.