The brand new Sarival Logistics Center industrial development, in Glendale, has signed a full-building lease of almost 1.2 million square feet with Logistics Plus, Inc., a leading provider of transportation, logistics and supply chain solution.

The building was constructed on a speculative basis, and represents the first phase of a larger development which can accommodate more than 2 million square feet of industrial product when fully built.

Sarival Logistics Center is located at the northeast corner of Loop 303 and West Bethany Home Road.

A Cushman & Wakefield team comprising Andy Markham, Mike Haenel and Phil Haenel represented the landlord in the lease transaction and leads Project Leasing for the campus. Jeremy Trotter of Foremost Commercial represented the tenant.

“We are thrilled to have secured a high-quality tenant to kick off the project and completely fill the first building and first phase of Sarival Logistics Center,” Cushman & Wakefield Vice Chairman Andy Markham shared in a statement. “The landlord decided to develop the building on a speculative basis and their strategy has been rewarded. This new campus is a highly attractive industrial development situated in one of the hottest corridors in the Southwest U.S.”

The 1,156,860-sf Building A includes many design and functionality features, including 40-foot clear height, 845 auto parking spaces, 409 trailer stalls, 218 dock doors and four drive-in dock doors, wide column spacing, ESFR sprinklers, heavy power of 6,000 amps, and LED warehouse lighting.

According to Cushman & Wakefield’s most recent Q3-2022 market report, Phoenix Industrial market vacancy stood at 4.9% overall, and has recorded 17.7 million square feet of occupancy growth year-to-date.

The West Phoenix submarket, where Sarival Logistics Center is located, has recorded nearly 3 million square feet of occupancy growth year-to-date, among the highest of all local submarkets.

“(Logistics Plus, Inc.) stands at the forefront of the growing Glendale distribution market by pioneering the way in this new post COVID era of supply chain logistics,” Cushman & Wakefield President Jeremy Trotter added.