Phoenix Developer, Chicago Firm Plan 5.5 Million Square Feet of Industrial in Glendale
A joint venture between CRG, the real estate development arm of Chicago-based Clayco, and Phoenix-based Bird Dog Industrial, is planning a 335-acre industrial park that will eventually total 5.5 million square feet of space near Loop 303 in Glendale.
CRG closed on the first parcel of land, which totals 260 acres near Reems Road south of Northern Parkway, in late December for $35 million, according to real estate database Vizzda. The first phase of construction on the park, called the Cubes at Glendale, will begin March 1, and will be one, 1.2-million-square-foot speculative warehouse building.
“We’ve watched Phoenix closely, waiting for the right opportunity to expand our platform here,” Shawn Clark, president of CRG, said in a statement. “This site gives us a unique competitive advantage in the market to offer next generation facilities at a quality and size that we expect will get the attention of several national users.”
The project is CRG’s first in the Southwest.
John Lydon of JLL represented CRG in the land acquisition and Tony Lydon of JLL represented the seller, Reems Ranch LLC. John Lydon and Bill Honsaker will be handling the leasing at The Cubes at Glendale.
“We’re excited to be marketing this unique project,” Honsaker said in a statement. “Phoenix attracted approximately 22 million square feet of industrial commitments in 2020, with around 75% of that activity happening in the West Valley. The Cubes at Glendale will respond to that demand with site and building flexibility and scalability, along with robust utility infrastructure that will appeal to the most sophisticated users – including operations with heavy manufacturing requirements.”
Clayco, the parent company of CRG, will be the builder of the project and Lamar Johnson Collaborative is the architect for the first building.
“Phoenix’s West Valley is a dynamic industrial market,” Mark Sonnenberg, founder and president of Bird Dog Industrial, said in a statement. “In addition to logistics and e-commerce fulfillment centers, the West Valley is home to large-scale manufacturers, food and beverage processors, pharmaceutical and medical supply distributors and data centers. The Cubes at Glendale was conceived with this user diversity in mind with multiple opportunities for speculative development, build-to-suits and shovel-ready lot sales.”
The Loop 303 corridor in Glendale and Goodyear has become the hottest area for large-scale industrial development. North of the Cubes at Glendale site is the Woolf Logistics Center, where both Red Bull and Mark Anthony Brewing, the maker of White Claw Hard Seltzer, have created manufacturing facilities. The site is northeast of where Canadian industrial real estate investment trust WPT Industrial REIT bought 108 acres and plans to build a 2.25-million-square-foot industrial park called Sarival Logistics Center.