Global Investment Manager Acquires Two Industrial Buildings In Litchfield Park For $170.25M

The industrial asset located at 16500 West Glendale Avenue in Litchfield Park, AZ, has a sale price of $170,250,000. The property encompasses 1,112,835 square feet, translating to a price per square foot of $153. The final two Class A industrial buildings within the Park303 logistics campus were fully leased, with a significant portion leased to major tenants DHL and Logisticus Group.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $170,250,000
• Square Footage: 1,112,835
• Sale Price per Square Foot: $153
• Seller: David Krumwiede, Clay Duvall & David Binswanger - Lincoln Property Company
• Buyer: A global investment manager

The transaction was marked by the notable achievement of setting Arizona’s record for the highest two-building industrial sale. This sale completed the disposition of all four buildings at Lincoln Property Company’s 3.75 million-square-foot Park303 logistics campus in Glendale, underscoring the demand for industrial space in the region.