Article Originally Posted by AZBigMedia on October 19, 2022
CBRE, on behalf of ViaWest Group, arranged the $12 million sale of the initial 82 acres (Phase I) of a 144-acre site in Glendale, Arizona. ViaWest plans to commence construction on this multi-phased industrial development known as The Base in early 2023. This industrial park will consist of 15 buildings totaling 1,963,477-sq.-ft. In addition to five acres already purchased in 2021, the remaining 57 acres (Phase II) is scheduled to close in January 2023.
CBRE’s Mark Krison and Luke Krison facilitated the acquisition on behalf of the developer, Phoenix-based ViaWest Group, and have been retained to market and lease the development. The seller was Airpark 30, LLC.
The site is located in Phoenix’s Southwest Valley on the northwest and southwest corners of Litchfield and Bethany Home Roads and between Camelback Road and the Northern Parkway. The Base will be developed in two phases. Phase 1 will include seven buildings ranging from 85,000 sq. ft. to 309,000 sq. ft., totaling 1,182.877 sq. ft. Phase 2 is proposed to include eight additional buildings ranging in size from 41,000 sq. ft. to 141,000 sq. ft., totaling 780,600 sq. ft.
The property will feature a center drive for passenger vehicles, perimeter circulation for trucks and abundant landscaping throughout. The buildings will feature modern designs and include heavy power, ESFR sprinkler systems, dock-high and grade-level loading, concrete truck courts, ample car parking, and R-38 insulation. Clear heights will vary between 28 feet and 36 feet.
“The Base will deliver a wide range of building options for companies seeking a contemporary industrial campus close to Phoenix’s freeways and amenities,” said CBRE’s Mark Krison.
The site features proximity and access to three major freeways—the Loop 101 freeway, Interstate 10, and the Loop 303 freeway—enabling tenants to provide goods and services to 65 million people in California, Colorado, Nevada, New Mexico, Texas, and Utah, according to CBRE. Additionally, Phoenix’s West Valley provides the park’s tenants access to an abundant labor pool with a workforce of approximately 860,000 workers within 20 miles and 2.53 million workers in the greater Phoenix MSA, according to Esri.
“The Base will be a great addition to the ViaWest Portfolio. We are excited to launch a project with such diverse building sizes to meet the needs of manufacturers, distributors, and all types of industrial users,” said Steven Schwarz, Founding Partner of ViaWest Group. “We also have laid out the site to cater to users that want to own, lease, or purchase land. It’s been great working with the City of Glendale to collaborate on this forthcoming premier industrial complex.”
“It has been a pleasure working with ViaWest Group and the city of Glendale is thrilled to facilitate the acceleration of this project to welcome future tenants to our community in the most expeditious manner possible,” said Brian Friedman, Economic Development Director, City of Glendale.