VanTrust Real Estate announced its latest development in Arizona Tuesday.

VT303 North, a 1.1 million square foot speculative industrial building in western Glendale. Situated at the southwest corner of Northern Avenue and Reems Road, the project is designed to meet the demand for modern logistics and distribution facilities.

VanTrust acquired the 66-acre parcel in August 2023 and has finalized the design and engineering for offsite infrastructure. Construction for VT303 North is set to begin in December.

The development boasts freeway access to both Loop 303 and Northern Parkway. This easy access to local and regional coastal markets puts more than 33 million consumers within a one-day drive.

“Given the business-friendly environment, deep and diverse labor base, as well as proximity to the Port of Long Beach, Phoenix continues to see unprecedented demand in the big box industrial space which includes general Distribution, E-Commerce, Apparel, and Food & Beverage uses among others,” Cooper Fratt, executive vice president of CBRE Industrial & Logistics, stated in a press release. “ VanTrust is set up perfectly to take advantage of the current supply & demand fundamentals at VT303 North.”

VanTrust successfully developed 830,000 square feet at the nearby VT303 project. VanTrust also recently completed phase one at VT101, totaling 310,000 square feet across two buildings along the Loop 101 in the Glendale sports and entertainment corridor.

“We’re proud to launch our third industrial project in Glendale, where we believe the timing couldn’t be better,” VanTrust Real Estate Senior Director of Development Jenna Borcherding stated in a press release. “The Loop 303 corridor continues to establish itself as a premier industrial hub, and we’re excited to contribute another high-quality development that supports the growth and strength of this market.”

Fratt and John Werstler of CBRE are the brokerage team for VT303 North.  In the past 15 months, seven of the nine 1 million square foot or larger buildings in the market have been leased or purchased, indicating limited supply in the pipeline.

VT303 North is the first speculative industrial project of more than 800,000 square feet in the West Valley in nearly two years.