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Hines, Oaktree Set Groundbreaking Date for Phoenix Industrial Project
Hines plans to start construction next month on the initial phase of G303, a Class A industrial development in Glendale, AZ that, at build-out, will total up to 1.2 million square feet. Graycor Construction Company was selected as general contractor for the project along the booming Loop 303 corridor.
G303 is being developed by Hines and funds managed by Oaktree Capital Management LP. The industrial park will be constructed in two phases, with two buildings each totaling 569,520 square feet. The first phase is set to deliver Q1 2021.
Graycor’s Todd Ostransky says, “Demand for freeway-fronting, logistics-focused product remains at an all-time high in Phoenix and across the U.S. G303 is being built to meet that demand head on, with the amenities that tenants need now to satisfy exponential e-commerce and distribution activity.”
JLL’s Bill Honsaker and John Lydon are the project’s exclusive leasing brokers.
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- ◦Development
