Glendale industrial building sells for $36M; and 7 other real estate deals to know

By Staff
Phoenix Business Journal
Sep 30, 2021, 12:00pm EDT


Phoenix-based Barclay Group recently sold 303 Logistics, a speculative industrial building in Glendale, to Torrance, California-based Overton Moore Properties for $36.2million, according to real estate database Vizzda.

The sale of the shell building located on the southwest corner of Loop 303 and Glendale Avenue closed on Sept.24, Vizzda shows. The property, called 303 Logistics, was recently completed and developed as a joint venture between Barclay Group and Scottsdale-based W.M. Grace Cos.

Jason Hines, vice president for Overton Moore Properties, said the purchase of the property is the company’s first in the Phoenix area in a few years and “demonstrates” the company’s commitment to Phoenix metro for industrial development. “The Phoenix market is critical to our expansion and to West Coast markets,” Hines said. “We have a strong belief in the [Loop] 303 corridor.”
The building on the property is available for immediate occupancy, Hines said. He added that Overton Moore Properties is pursuing additional acquisition opportunities and is looking for land for industrial development in the Phoenix area.

“We believe long term in the Phoenix market, and as we expand out of California it’s a major expansion and growth market for us,” Hines said.
Barclay Group Barclay Group and W.M. Grace Cos. started construction on the class A industrial building fronting the Loop 303 about a year ago. The cross-dock facility includes modern amenities with 36-foot clear height, clerestory windows, R-30 roof insulation and an ESFR sprinkler system, among other features.

The site also has concrete truck courts, 89 trailer parking spaces and is expandable to nearly 300 auto parking spaces on a fully gated and secure site. The general contractor for the project was Renaissance Cos. The architect was Butler Design Group. The property is close to Luke Air Force Base and sits north of multiple industrial sites that are home to companies like
Dick’s Sporting Goods, UPS and REI. Anthony Lydon, Marc Hertzberg and Riley Gilbert with JLL are handling the leasing on the building, according to marketing materials
and Hines.