VanTrust Real Estate, a national commercial real estate development company, has completed the acquisition of 66 acres in one of the most active industrial submarkets in the Southwest, the Loop 303 corridor in Glendale.
The 66-acre parcel is located at the southwest corner of Northern Avenue and Reems Road. It is situated less than a mile east of the Loop 303 and a half-mile south of the Northern Parkway. The parcel has been annexed into the city of Glendale and is zoned for industrial development and entitled for more than 1 million square feet of product.
“We are thrilled to announce the acquisition of this 66-acre site along the Loop 303 corridor,” VanTrust Senior Director of Development Jenna Borcherding shared in a news release. “The submarket continues to be one of the top destinations for industrial prospects looking for space to relocate or expand their operations. This is familiar territory for our team, and we’re ready to build upon our success in Glendale.
This latest acquisition will allow VanTrust to expand its diverse development portfolio in the Southwest. VanTrust, named national Developer of the Year by the National Association for Industrial and Office Parks, is nearing completion of VT 202, a two-building, 181,000 square foot infill industrial development in west Phoenix.
Daikin Comfort Technologies, a leader in residential and commercial HVAC, will soon occupy the park. Joseph Cooper of SRS Industrial represented Daikin on the lease.
VanTrust is also set to complete approximately 1.8 million square feet, which includes three buildings, at their Vantage North project in North Las Vegas, Nevada. Saddle Creek Logistics will occupy the first building in December.