Inside Look: Lincoln Property Co.’s New Park303 Phase 2 Creative Industrial

GLENDALE, Arizona, December 14, 2023 – Full-service commercial real estate firm Lincoln Property Company (LPC) has announced the completion of Park303 Phase 2, a Class A industrial development in Glendale, Arizona that is leading the market in creative industrial amenities. Among these: a high-end speculative office suite, leading edge features for modern manufacturing and distribution, and a premier outdoor area with a pickleball and basketball court, barbeques and entertainment area with shaded outdoor seating designed for employee comfort.

“Park303 represents the future of industrial, which in Phoenix involves some of the sector’s most forwardthinking users, from semiconductors and energy to manufacturing and e-commerce,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “Buildings that function at the forefront of modernity and empower companies to exceed employee needs in the same way a highly amenitized Class A office building might, will be the ones to succeed in our increasingly sophisticated landscape. We’ve considered all of these factors in the design of Park303 and the results have been exceedingly well received.”

Developed by LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Company, Park303 is located at the intersection of the Loop 303 and Glendale Avenue. The project’s Phase 2 totals nearly 2.5 million square feet in three state-of-the-art industrial buildings: Building A totaling 629,835 square feet, Building B totaling 483,835 square feet and Building C totaling 1.25 million square feet. At a tenant’s request, Buildings A and B can also be combined into a single building totaling 1.21 million square feet.

Park303 Phase 2 sits on 71.5 acres fronting the Loop 303 freeway, one of the nation’s hottest new industrial corridors. It completes LPC’s Park303 development, which now at completion spans 210 acres able to accommodate more than 3.7 million square feet of Class A industrial development.

Buildings at Park303 Phase 2 feature 40’ clear height, 25’ tall glass entries, 3 to 12,000 amps of power with conduit in place for expansion, 7” slabs over 4” of crushed rock, and steel moment frame shear bracing that allows for highly modern, automated racking and picking equipment. Interiors are bordered with 5’ x 10’ clerestory windows, providing employees with access to sky views and natural light, shown to increase productivity and mental focus.

Park303 Phase 2 sits directly north of LPC’s Park303 Phase One, a 1.25 million-square-foot building that is fully occupied under a long-term lease by Walmart. The Phase 1 building was sold in 2021 to BentallGreenOak for $186 million, marking the highest single-building industrial sale price in Arizona history.

“Park303 thinks beyond what exists in the market, and instead focuses on what is possible and needed for the future of Phoenix industrial,” said Lincoln Property Company Vice President John Orsak. “Its buildings have raised the bar for what is expected of Class A industrial space. That is an exciting and rewarding thing to be a part of and is the epitome of delivering the right product in the right location at the right time.”

Collectively, the Phase 2 buildings provide 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls (all expandable). Both buildings are also Foreign Trade Zone capable.

Fronting the Loop 303, Park303 Phase 2 offers freeway signage opportunities and convenient ingress and egress via two full-diamond freeway interchanges. It sits within a one-day truck haul to more than 33 million consumers. It is also one mile from the Northern Parkway, a high-capacity roadway providing rapid connection between the Loop 303 and US 60/Grand Avenue. For tenants, this provides expedited routes for distribution operations and allows employees to avoid common rush hour traffic delays on Interstate 10.

Corporate neighbors to Park303 include Boeing, Microsoft, White Claw, XPO Logistics, UPS, REI, SubZero, Daimler-Benz, Red Bull, Ball Corporation, Aldi and Williams Sonoma, as well as hundreds of new residential homes.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

About Lincoln Property Company

Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset management services. LPC has approximately 3,200 employees with an international footprint that includes offices in 45 cities across the U.S. and 12 countries in Europe. Since 1965, LPC has developed more than 160 million square feet of office, industrial and retail projects known for their design, quality and superior locations. It currently has more than 433 million square feet of commercial space under leasing and/or management.

LPC’s Desert West Region is based in Phoenix and includes Arizona, Nevada, Utah and New Mexico. Since its start in 2001, the regional office has developed over 15 million square feet, acquired more than 6 million square feet and manages approximately 22 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. Since 2019, the company has completed two of the highest-priced metro Phoenix office and industrial transactions and launched the Union office campus in Mesa, new buildings at The Grand at Papago Park Center in Tempe and the Park303 logistics park in Glendale, among other developments. LPC Desert West is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, earning consecutive 2018, 2019 and 2020 NAIOP Arizona Owner/Developer of the Year awards and designation as an Arizona Republic Top Companies to Work for in Arizona. In 2020, the firm kicked off a regional expansion plan, entering the Nevada and Utah markets with Class A industrial acquisitions. To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcdesertwest.com.