Construction commenced recently on Latitude 303 Logistics industrial park which is located near the southeast corner of Loop 303 and Glendale Avenue, Arizona. This 897,315-square-foot, two-building industrial development park owned by CBRE, will include one 742,693-square-foot building (Building A) and one 154,622-square-foot building (Building B), which are intended to cater for tenants occupying between 50,000 square feet and 742,693 square feet in the West Valley, after its completion in the first quarter of 2022.
Building A, will consist of 40-foot clear height, 120 dock doors and parking for 409 cars and 125 trailers, and Building B, will be designed to hold 32-foot clear height, 27 dock doors and parking for 188 cars and 18 trailers. These two buildings will feature 200-foot deep truck courts, seven-inch thick concrete floors, LED lighting, energy conserving clerestory windows, and will be divisible to accommodate tenants ranging from 50,000 square feet and up.
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Development of the Latitude 303 Logistics industrial park project is as a result of the joint venture partnership McKinney Investments, Westport Capital Partners and AEW. While exclusive leasing agents for the project include CBRE’s Dan Calihan, Rusty Kennedy, James Cohn and Pat Feeney
The Vice Chairman of CBRE’s Capital Markets Debt and Structured Finance Group, K.O Kennedy mentioned that the company was enthusiastic about working with Westport Capital Partners and AEW, and he was also impressed by their detailed attention to the design and functionality of this technologically advanced project.
Kennedy stated, “Situated within the most sought-after industrial corridor in the Valley, Latitude 303 Logistics will guarantee tenants unmatched access to the West Valley and metro Phoenix’s deep bench of high-quality, skilled labor.”
In addition to Latitude 303 Logistics industrial park, other notable developments taking place in Southwest Valley include the 1.2 million-square-foot Building 1 of The Cubes at Glendale, which is among one of the top projects that will reshape Phoenix, and also the development of Cotton 303 Logistics Center, a 915,160-square-foot speculative project taking shape right across from Latitude 303 Logistics.
