Arizona

GLENDALE, ARIZ. — CRG has completed the sale of The Cubes at Glendale – Building B, an industrial warehouse facility in Glendale. Funds and accounts managed by BlackRock acquired the asset for an undisclosed price. Located at 15301 W. Northern Ave., The Cubes at Glendale – Building 3 features 1.2 million square feet of Class A industrial warehouse space, 40-foot clear heights, loading, trailer parking, gated and secured concrete truck courts, substantial power, K25.2 ESFR sprinklers, moment framing, heavy industrial zoning and two existing groundwater wells within the park. At the time of sale, the facility was fully occupied. Clayco, CRG’s parent company, served as design-builder and Lamar Johnson Collaborative, CRG’s subsidiary, served as architect. Situated on 335 acres, The Cubes at Glendale features 4.8 million square feet of industrial space. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller in the transaction.

GLENDALE, ARIZ. — EQT Exeter, a real estate division of EQT, has purchased Falcon Park 303 – Phase II, a 326,018-square-foot, Class A industrial building on more than 21 acres in Glendale. US Capital Development (USCD) and an institutional investor sold the asset for $50 million. A single tenant occupies the freestanding building, which was completed on a speculative basis in 2023. Totaling 925,504 square feet, Falcon Park 303 – Phase I and II are located at 15132 and 15152 W. Camelback Road, respectively. Will Strong, Michael Matchett, Molly Hunt and Dean Wiley of Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the sellers in the disposition. Cushman & Wakefield’s Mike Haenel, Andy Markham, Phil Haenel and Foster Bundy provided market leasing advisory in the sale, as well as brokered the full-building lease with the existing tenant in fourth-quarter 2023. In 2023, the Cushman & Wakefield team brokered the sale of Falcon Park – Phase I to Cohen Asset Management for $81.7 million, while the Cushman & Wakefield equity debt structured finance team arranged the financing for the buyer.