Lincoln Property Completes 2.5 MSF Industrial Project

Lincoln Property Co. has completed Park303’s second phase in Glendale, Ariz. Creative amenities including pickleball and basketball courts are raising the bar for metro Phoenix industrial space. Image courtesy of Lincoln Property Co.

Lincoln Property Co. has added nearly 2.5 million square feet of industrial space to the Glendale, Ariz., market. The firm’s southwestern U.S. division, LPC Desert West, completed Park303’s second phase, after starting construction on the project in March 2022.

Park303’s latest and final component totals three Class A industrial facilities, including the 629,835-square-foot Building A, the 483,835-square-foot Building B and the nearly 1.3 million-square-foot Building C. According to Lincoln Property Co., buildings A and B can be combined into a single structure totaling more than 1.2 million square feet.

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The developer constructed each of the new buildings with 40-foot clear heights, 25-foot glass entries and 3 to 12,000 amps of power with possibility for expansion. Combined, all three buildings total 430 dock doors, 778 trailer stalls, and more than 1,556 parking stalls. The buildings’ amenities include a speculative office suite, an entertainment area, pickleball and basketball courts, barbecue areas and outdoor seating.

With the delivery of the second phase, Lincoln Property Co. has officially completed Park303, which offers more than 3.7 million square feet of Class A industrial space on a 210-acre site. The firm broke ground on the first phase, a 1.3 million-square-foot building, in March 2020 and has since landed a long-term lease with Walmart and sold the building to BentallGreenOak for $186 million.

Park303’s buildings are located a mile away from Northern Parkway, which offers quick access to Loop 303 and Grand Avenue. Corporate neighbors in the area include Boeing, Microsoft, UPS and Red Bull.

Industrial expansion to the west

While Lincoln Property Co. maintains a presence in more than 45 U.S. cities, LPC Desert West is based in Phoenix and has been operating since 2001. To date, the firm’s regional arm has acquired more than 6 million square feet and has lined up a development pipeline totaling 15.5 million square feet.

Besides Park303 project, LPC Desert West has been working on a $515 million industrial project that’s also in Glendale, Ariz., and will total 2.4 million square feet. The Class A facility called Luke Field broke ground in October. Earlier in the year, LPC Desert West also began construction on Windsor Commerce Park, a 1.6 million-square-foot industrial campus in northern Las Vegas that’s expected to come online in the third quarter of 2024.