The Southwest Division of Graycor Construction Company has completed its panel tilt at Glendale 303 (“G303”) Phase I, marking the near-term completion of a Class A industrial development poised to meet the needs of still-surging Phoenix industrial demand – even during the ongoing COVID-19 pandemic.
The project, which is being developed by Hines, the international real estate firm, and funds managed by Oaktree Capital Management L.P. (“Oaktree”), will be constructed in two phases, with two buildings each totaling 569,520 square feet or the ability to convert into one, 1.2 million-square-foot building for a single major user.
Situated along the booming Loop 303 corridor in Glendale, Arizona, G303 Phase I alone includes the raising of more than 134 massive concrete panels, a process completed in just 10 days, with panels reaching up to 54 feet in height and up to 209,000 pounds each.
“When we announced this project in June, we were already seeing signs that the Phoenix industrial market would be key in the Western U.S. supply chain, as consumers significantly increased their online buying activity,” said Courtney Schneider, Director at Hines who oversees industrial development for Arizona and Colorado. “We believe that trend has only continued to strengthen, making Graycor’s progress at G303 a welcome event. We are excited to reach this construction benchmark and are looking forward to delivering Phase 1 of G303 during the first quarter of 2021.”
As Phase I general contractor, Graycor managed grading for the full G303 project site and is directing construction of its first, 569,520-square-foot building. The project architect is Ware Malcomb and JLL Managing Director Bill Honsaker and Vice President John Lydon are the project’s exclusive leasing brokers.
“This is a strong team with a track record of developing and leasing some of Phoenix’s most sought-after industrial buildings,” said Todd Peters, Graycor Construction Company Project Executive. “G303 seeks to continue that record. It is perfectly timed to meet the Valley’s growing demand for Class A West Valley manufacturing and distribution space.”
G303 is located immediately off the Loop 303 freeway between Glendale Avenue and Bethany Home Road. The industrial building features a sleek exterior design and will offer 40-foot clear height, 60-foot speed bays and 80 dock-high loading doors within highly functional footprints. Phase I alone will be able to accommodate more than 550 cars.
Construction on Phase I began in July and is scheduled for completion during first quarter 2021.