LaSalle Pays $109M for W. Phoenix Warehouse

LaSalle Investment Management, the investment company associated with JLL, paid $109 million for a 734,000-square-foot warehouse in Glendale. Building B at 303 Crossroads was sold by Clarius Partners, which developed the industrial park along with Cresset Partners.

With this purchase, LaSalle Investment Management owns the whole two-building, 98.6-acre park located off Loop 303 and Northern Parkway.

Last summer LaSalle spent $140.2 million to acquire Building A in one of the largest industrial deals of the year. That 1,023,610-square-foot facility is currently leased to Puma and operates as the global sportswear brand’s regional distribution center.

Building B is currently leased to lawn care giant Scotts Miracle-Gro, which manufactures and distributes lawn and garden products.