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Phoenix & Southwest  + Industrial  | 

NY Life, SteelWave Grab 74-Acre Glendale Site for 1.1M-SF Spec Development

New York Life Real Estate Investors, on behalf of an institutional client, and fellow San Francisco-headquartered SteelWave acquired a 74-acre industrial site in Glendale. The pair plan to develop Commerce @ 303, a 1.1-million-square-foot Class A industrial project.

SteelWave’s Barry DiRaimondo says, “We are very excited to re-enter the Phoenix industrial market after a long hiatus. Joined by one of our long-time development partners, Commerce @ 303 provides us with a great opportunity to provide a ground-up state-of-the-art facility in a strategic location that will meet all the essential needs of today’s industrial users.”

Alsup 303 Industrial Park, LLC sold the land at West Camelback and Alsup road for roughly $14.4 million. Constructed on a speculative basis, Commerce @ 303 includes two buildings of 663,367 square feet and 497,747 square feet respectively and is expected to deliver in 2021.

Cushman & Wakefield’s Andy Markham, Mike Haenel and Phil Haenel represented the buyer and were also retained to handle leasing.

For comments, questions or concerns, please contact Dennis Kaiser

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Connect With SteelWave’s DiRaimondoConnect With New York Life Real Estate InvestorsConnect With Cushman & Wakefield’s Markham

About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

  • ◦Development
  • ◦Sale/Acquisition