Commercial real estate firm Lincoln Property Company recently completed its first lease at the Park303 logistics park, signing third party logistics company Logisticus Group LLC to a 483,300-square-foot commitment that fully leases one of the project’s three buildings.

A privately owned company specializing in transportation, logistics, civil engineering, project management and technology, Logisticus Group will use its space at Park303 to provide services to a large, publicly traded alternative energy company.

“Park303 was designed for just this type of user, with a location and market-leading amenities that supercharge the ability of logistics companies to work efficiently and to attract and retain top talent. We’re so pleased to welcome Logisticus to the property,” stated Lincoln Property Company Executive Vice President John Orsak in a press release. 

Located on 71.5 acres along the Loop 303 at Glendale Avenue in Glendale, Park303 Phase 2 is a Class A industrial development totaling nearly 2.5 million square feet in three industrial buildings. Collectively, Phase 2 offers 430 dock doors, 778 trailer stalls and more than 1,556 parking stalls (all expandable). Both buildings are also Foreign Trade Zone capable.

Park303 features include high-end speculative office suites and an outdoor area with a pickleball and basketball court, barbeques and entertainment area with shaded outdoor seating. Building interiors provide employees with access to sky views and natural light.

“Metro Phoenix’s sunny climate and lack of natural disasters make it a strong site selection option for alternative energy companies like solar and battery storage, and the companies that support this industry,” stated Lincoln Property Company Vice President Nick Nudo.

Josh Wyss and Kyle Berdugo of Cushman and Wakefield represented Logisticus Group in its lease negotiations. Lincoln Property Company was self-represented as the property manager and leasing agent for Park303.

Park303 Phase 2 completes Lincoln’s Park303 development, which spans 210 acres and includes Park303 Phase 1, a 1.25 million-square-foot building that is fully occupied under a long-term lease by Walmart. Park303 Phase 1 was sold in 2021 to BentallGreenOak for $186 million, marking the highest single-building industrial sale price in Arizona history.

Park303 Phase 2 sits within a one-day truck haul to more than 33 million consumers. It is also one mile from the Northern Parkway, a high-capacity roadway providing rapid connection between the Loop 303 and US 60/Grand Avenue.

Logisticus Group will fully lease Building B at Park303 Phase 2. The project offers two available buildings, a 629,835-square-foot Building A and 1.25 million-square-foot Building C. For information on Park303 leasing or general leasing and development opportunities with Lincoln, call 602-912-8888.