US-based real estate firm Hines along with Oaktree Capital Management, an asset management firm, has acquired a 75-acre site in Glendale, Arizona to construct an industrial complex.

Located just off of Loop 303 between Glendale Avenue and Bethany Home Road, Arizona, the industrial park will be named as G303, which will include two industrial buildings, each with 569,520ft².

Ware Malcomb, an integrated design services provider, will be responsible for the design of the G303.

The project will be constructed in two phases. The first phase will comprise a 569,520ft² industrial/logistics building, which will feature 80 dock-high loading doors along with 200ft truck courts.

The building will have the capacity to accommodate over 600 car parking stalls.

Hines said that the project will feature a sleek, distinctive design and will also provide functional and efficient floor space for the tenants.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Construction on the project is scheduled to begin in July this year and is planned to be completed in the first quarter of next year.

Hines director Courtney Schneider said: “We are excited for the unique opportunity to develop a Class A logistics facility in the 303 Corridor.

“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.”

Recently, the real estate firm along with its partner Cresset-Diversified QOZ Fund has commenced construction on The Mercantile, a mixed-use redevelopment project located in downtown Omaha, Nebraska.

The project’s first vertical development will be a 375-unit, four-storey midrise apartment building with 42,000ft² of retail space on the ground floor.

—————————————————————————————————————————————————–

Image: Rendering of the G303 industrial complex in US. (Credit: Hines Group.)