Project developers Barclay Group and W.M. Grace Companies joined today with local dignitaries to break ground on 303 Logistics, a speculative, 349,663-square-foot Class A industrial building directly fronting the Loop 303 freeway.
Situated at the southwest corner of the Loop 303 and Glendale Avenue, the building is part of the Loop 303 corridor, one of the fastest-growing industrial corridors in the nation.
“This project brings necessary infrastructure and desired industrial facilities to Glendale that I’m so proud of and that we know will spur more development and employment in our New Frontier district,” said Glendale Mayor Jerry Weiers, “I understand how important relationships are in economic development and it pleases me to see the additional investment in Glendale from Barclay Group and its partners.”
“303 Logistics was designed with the infrastructure and amenities to support the market’s most active industrial users, including e-commerce, third-party logistics, manufacturing and food and beverage,” said Barclay Group Executive Vice President Colby Fincham.
“These are the industries looking for modern, move-in-ready space in this submarket, and 303 Logistics will be ready to meet that demand. We appreciate those who came out today to celebrate our groundbreaking benchmark,” said W.M. Grace Companies Vice President Mike Pearlstein.
When complete, the 303 Logistics cross-dock facility will offer modern amenities including 36’ clear height, 75 dock high and 4 grade level doors, 52’ x 50’ column spacing to accommodate state-of-the-art automated equipment, clerestory windows to maximize natural light, R-30 roof insulation and an ESFR sprinkler system.
Logistically the site offers reinforced concrete truck courts, 89 trailer parking spaces and is expandable to 297 auto parking spaces on a fully gated and secure site. It is immediately accessible to the Loop 303 via a full-diamond interchange at Glendale Avenue. It is 30 minutes from Sky Harbor International Airport and two minutes from both I-10 and the new Northern Parkway, a four-lane I-10 reliever expressway providing workforce connectivity between the Loop 303, Central Phoenix and Glendale.
The project will be Foreign Trade Zone capable, offering up to 72 percent reduction in both real and personal (equipment) property tax, duty deferral or elimination, and reduced customs reporting entries. Tenants at 303 Logistics can reach Southern California’s Inland Empire in less than four hours and the ports of Los Angeles and Long Beach in approximately five to six hours.
“These are exceptional advantages that make Phoenix’s West Valley one of the fastest and most attractive industrial submarkets in the nation. Loop 303 is expected to add approximately 35 million square feet of new industrial space over the next five to six years,” said Senior Vice President Riley Gilbert from the Phoenix Office of JLL, who serves as the project’s leasing broker along with JLL Managing Directors Anthony Lydon and Marc Hertzberg. “We are thrilled to be on site today to celebrate the start of this well-timed and well-planned, state-of-the-art industrial building.”
Nearby corporate employers to 303 Logistics include UPS, XPO/Boeing, Ferrero, Ball Manufacturing, Sub-Zero and REI.
Construction begins immediately on 303 Logistics, with completion anticipated by Q2 2021. The general contractor for the project is The Renaissance Companies. The architect is Butler Design Group.