CBRE announced that construction started on Latitude 303 Logistics, a Class A industrial development to be built in Glendale, Arizona.
Located on about 54.82 acres at the southeast corner of the Loop 303 and Glendale Ave., the development will total 897,315 square feet when completed in the first quarter of 2022. It will cater to tenants occupying between 50,000 square feet and 742,693 square feet in the West Valley.
CBRE’s Dan Calihan, Rusty Kennedy, James Cohn and Pat Feeney will serve as the exclusive leasing agents for the project, which is being developed by McKinney Investments, Westport Capital Partners and AEW.
Latitude 303 Logistics will include a 742,693-square-foot building (Building A), featuring 40- foot clear height, 120 dock doors and parking for 409 cars and 125 trailers. The 154,622- square-foot building (Building B) will include 32-foot clear height, 27 dock doors and parking for 188 cars and 18 trailers. Both buildings will also feature 200-foot deep truck courts, seveninch thick concrete floors, LED lighting, energy efficient clerestory windows and will be divisible to accommodate tenants ranging from 50,000 square feet and up.
“We are excited to work with McKinney Investments, Westport Capital Partners and AEW on this technologically advanced project, which was designed with great attention to detail in both design and functionality,” said Kennedy. “Situated within the most sought-after industrial corridor in the Valley, Latitude 303 Logistics will guarantee tenants unmatched access to the West Valley and metro Phoenix’s deep bench of high-quality, skilled labor.”
Latitude 303 Logistics offers extensive interchange visibility along the Loop 303 freeway frontage, unmatched identification opportunities, and nearby access to Interstate 10.
The Southwest Valley continues to attract manufacturing, third-party logistics and data centers due to its accessibility to California and the available of labor in the area, according to CBRE research. The West Valley submarket posted the strongest gains in net space absorption totaling nearly 3.8 million square feet to close Q1 2021. Walmart, Microsoft, Fairlife, Amazon, CBRE Press Release UPS, FedEx, Ferrero, Ball Corporation, RedBull and Mark Anthony Brewing have all recently leased space or moved into newly completed build-to-suits in the Southwest Valley.