Cresset Real Estate Partners, Clarius Partners Acquire Land for 1.7 MSF Logistics Development in Arizona

The development, known as 303 Crossroads, will consist of two buildings to be built in two phases.

GLENDALE, ARIZ. — Cresset Real Estate Partners and Clarius Partners have closed on the land acquisition for 303 Crossroads, a planned 1.7 million-square-foot logistics development in the Phoenix suburb of Glendale. The land price was not disclosed. The development will consist of two buildings to be built in two phases on land fronting Loop 303 and Northern Parkway. Building one will be 1 million square feet and is slated for completion in 2022. Building two will be 734,800 square feet and is slated for completion in 2023. The groundbreaking for the project is scheduled for this October. Both buildings will feature cross-dock configurations, a 40-foot clear height and above-market parking ratios. The buyers were represented in the transaction by CBRE.

Content Partners
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Walker & Dunlop

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