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Loop 303 corridor in Glendale gains new huge industrial development deal

1 million-square-foot complex to open in 2021

Even in a year fraught with coronavirus, construction tax revenue is surging in Glendale, and got another big boost Dec. 22.

A 74-acre industrial development site along the Loop 303 corridor was sold with plans to bring a new Class A industrial project known as Commerce @ 303 to the tune of more than 1 million square feet of space.

The parcel, at the northeast corner of Camelback and Alsup roads, went for $14.4 million to New York Life Real Estate Investors, on behalf of an institutional client, and fellow San Francisco-headquartered SteelWave, a full-service commercial, multifamily and mixed-use real estate management, operating company and investment management firm.

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