A 1.1 million square foot warehouse in Glendale has sold for $128.2 million, sources told the Phoenix Business Journal. EQT Exeter was the buyer of the building at the Sarival Logistics Center, off the Loop 303 and West Bethany Home Road at 6390 N. Sarival Ave. WPT Capital was the seller.

The space is currently leased by Logistics Plus, a global warehousing, transportation, fulfillment and logistics company. Cushman and Wakefield’s Will Strong, Molly Hunt, Michael Matchett, and Jack Stamets represented both the buyer and the seller.

Thanks to explosive growth adjacent to the Loop 303, nearby towns like Goodyear and Glendale could become home to nearly 100 million square feet of warehouse space once built out.

Arizona’s Department of Transportation is currently working on an extension of the 303, connecting it south of the I-10 through Goodyear.