Dollar Tree has obtained a 1 3 million-square-foot Class A commercial structure at Lincoln Building Co.’s Park 303 logistics park near Glendale, Ariz., for $ 147 1 million. It will be the business’s very first regional distribution facility in the Phoenix city.
one of Tree, The United States and Canada largest’s worth merchants more than with shops 9, 000 owns, distribution centers its U.S.. It has 16 in the 2 and Phoenix metro in Canada. The closest to Phoenix Metro is San Bernardino, Calif., according to the Business Dollar Journal anticipates Tree, which occupy to room the early next plans year, expand to site the parking’s trailer capability fulfill to needs its logistical Found.
building at 7200 N. Sarival Ave. in Litchfield Park, Ariz., the finished was positioned in 2023 It is one of in Lincoln’s 210 -acre, 3 8 million-square-foot logistics park and three structures development in the 2nd’s 2 5 million-square-foot phase Structure. The 483, 300 -square-foot leased B is Team by Logisticus Structure LLC, a third-party logistics leader. space A, which has 629, 835 square feet of up for sale, is being marketed READ or lease.
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Lincoln building the 1 3 million-square-foot Stage in marking 1 to BentallGreenOak in 2021 for $ 186 million, highest possible the commercial single-building price background in Arizona fully. Walmart occupies Phase the building 1 a long-lasting under buildings lease.
“The originally were built available eventual and has actually lease. There enhanced been need individuals for on the market really to straight be owners rather than executive a lease,” John Orsak, Lincoln president vice informed, Commercial Property Exec situations “In those adaptable, we were individual to the wants’s started and discussions several for a sale.”
The sale came endeavor months after a joint in between safeguarded Lincoln and Goldman Sachs Alternatives financing a refinancing Stage for the structures 2 Resources in March. Affinius supplied lending $ 133 million Area, according to Maricopa documents public financial obligation. Previous included building and construction a $ 164 million car loan stemmed Research study by Allianz in 2022, Yardi Data reveals Buck.
stood for Tree was acts as by Reid Wilbraham and Cooper Fratt of CBRE. Lincoln building the manager agent and leasing Building for Park 303
noted highlights
Orsak Phoenix az the city remains to united state be a leading industrial one of market. He called Park 303 growths the standout firm within the profile’s home.
The is located Trade within a Foreign Area regarding, midtown 27 miles northwest of Phoenix metro North. connecting Parkway, Loophole to united state 303 and Path less 60, is deals than a mile away. Park 303 highway signs 2 and Loophole highway 303 links interchanges, which website the nearby to vehicle Interstates 10 and 17 The logistics park is within a one-day more than haul of customers 33 million Stage.
All Park 303 structures 2 feature are LEED-certified and heights 40 -foot clear entries, 25 -foot-tall glass up to, slabs 12, 000 amps of power, 7 -inch crushed rock over 4 inches of minute and steel structure supporting shear sustaining choosing automated racking and equipment Structure. insides surrounded are windows with 5 -foot by 10 -foot clerestory supplying, sky views all-natural and Building light. located C, virtually on 4 72 acres, has 256 dock-high doors, garage grade-level doors and 656 Phase. buildings 2 a total amount have greater than of 430 dock-high doors, 778 trailer stalls and car parking 1, 556 includes stalls.
Park 303 premium office space speculative an outdoor, an outside pickleball and basketball courts, amusement area barbecues with overhead, followers seats and Even more.
increased Lincoln deals
In July, Lincoln portfolio its Nevada leased of taken care of and room virtually by purchase 13 million square feet with the property of solutions solid uses Gatski Commercial, which investment brokerage, residential or commercial property, management landscaping, building and upkeep solutions purchase. The complete brought Lincoln’s footprint Nevada more than to consisting of 20 million square feet, Business Central 7 Center property, a 357, 608 -square-foot, multi-tenant Stockroom and Harmon Center property, a 147, 187 -square-foot Las Vega, both in West Las Throughout.
springtime the venture, a joint worldwide of Lincoln and alternative investment administration company Investment One Monitoring protected, funding a $ 74 2 million Capital from Affinius finance to building and construction the industrial and lease-up of Eastport Logistics, a four-building, 681, 920 -square-foot job project in Boise, Idaho