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Hines Plans 1.1M-SF Spec Development in PHX’s West Valley
Houston-based Hines, together with funds managed by Oaktree Capital Management, L.P., bought 75 acres in Glendale for the future development of two speculative industrial buildings totaling more than 1.1 million square feet combined. The project, off Loop 303 between Glendale Avenue and Bethany Home Road, will be known as “G303” – short for Glendale 303.
The two-phase state-of-the-art industrial/logistics park’s first phase will consist of 569,520 square feet and feature 40-foot clear heights and 50- by 56-foot column spacing with 60-foot speed bays. G303 is set to break ground in July 2020, and delivery is scheduled for Q1 2021.
Hines’s Courtney Schneider says, “G303 fills a void in the West Valley for tenants looking for 500,000-600,000 square feet of space. We are confident that not only our building size, but the direct access to Loop 303 and competitive rates will be well received in this submarket.”
JLL’s Marc Hertzberg, Tony Lydon, Bill Honsaker and John Lydon are handling leasing.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Development
- ◦Sale/Acquisition
