38.52-acre land parcel located at the northeast quadrant of Reems Road and Olive Avenue within the Woolf Logistics Center in Glendale, Arizona. The property is in the heart of the Northern Parkway Industrial Corridor in the Northwest Valley of the Phoenix-Glendale-Scottsdale MSA.
Develop two class-A industrial buildings. The proposed structures will include a 225,000 SF multi-tenant rear load & 450,000 SF cross-dock warehouse.
Tremendous development activity in the immediate vicinity with new facilities being developed by White Claw, RedBull, Amazon, Microsoft, and others.
Attractive land basis at roughly 25% below market value at acquisition.
Demand drivers include e-fulfillment centers capable of reaching the southern California market where supply is constrained, and development can be cost prohibitive.
In September, we celebrated commencing construction with a groundbreaking ceremony at the site