Western

PHOENIX — JLL Capital Markets has arranged the sale of Marigold Two-Pack, a two-building, 237,765-square-foot industrial portfolio in metro Phoenix. An Ares Real Estate fund acquired the asset for an undisclosed price. Ares Industrial Management will manage the portfolio, which consists of a 100,000-square-foot property in the Southwest Valley submarket and a 137,765-square-foot asset in the Airport Area submarket. The buildings offer secured and gated yards, 22- to 30-foot clear heights, ample dock-high and grade-level loading, excess parking and low office build-out. At the time of sale, the assets were fully leased to six tenants. Ben Geelan and Greer Oliver of JLL represented the undisclosed seller in the transaction.

GLENDALE, ARIZ. — Lincoln Property Co. has completed the sale of a 1.25 million-square-foot industrial building in Glendale, Ariz., to Dollar Tree for $147.1 million. Park303 totals 210 acres and 3.75 million square feet of industrial space. Built in two phases, Park303 features a 1.25 million-square-foot single-building Phase 1 and a 2.5 million-square-foot, three-building Phase 2. Dollar Tree purchased Park303 Phase 2 Building C to establish the company’s first regional distribution facility in the metro Phoenix market. Dollar Tree currently operates more than 9,000 stores and 18 distribution centers, employing approximately 150,000 associates across the United States and Canada. All Park303 Phase 2 buildings are LEED-certified and Foreign Trade Zone capable with 40-foot clear heights, 25-foot tall glass entries, up to 12,000 amps of power, 7-inch slab over 4-inch crushed rock and steel moment frame shear bracing supporting automated racking and picking equipment. Together the buildings offer 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls. Park303 amenities include speculative office space, an outdoor pickleball and basketball court and an outdoor entertainment area with barbecues, overhead fans and seating. Lincoln serves as the property manager and leasing agent for Park303. Reid Wilbraham and Cooper Fratt of Cushman & …

PHOENIX — SVN | Desert Commercial Advisors has brokered the purchase of an industrial building located at 4002 N. 36th Ave. in Phoenix. Hilton Cabinets acquired the asset from an undisclosed seller for $4.3 million. Hilton Cabinets is renovating the property for use as a cabinet manufacturing and distribution center. The property features a secure and gated yard, significant power capacity and fully air-conditioned interiors. Justin Horwitz, Richard Lewis, Sean Alderman and Jillian Moyer of SVN | Desert Commercial represented the buyer, while Chad Kirkorsky of Citywide Commercial Real Estate represented the undisclosed seller in the deal.