Plans are underway for the construction of just over 1 million square feet of new warehouse and industrial space on the west side of growing Glendale, Arizona.
The San Francisco-based SteelWave, a commercial real estate firm, has purchased some 74 acres of land in the city with the goal of constructing two structures at the site.
The project is officially called Commerce @ 303.
In a partnership with New York Life Real Estate Investors, SteelWave purchased the land for the project for just under $14.5 million.
Plans currently call for a two-phase construction schedule, with the initial building of a structure measuring just over 663,000 square feet.
The second building, to see construction most likely in early 2022, will measure just under 500,000 square feet.
Both structures will be at least 40 feet in height, with skylights, dock space, and eight grade level doors.
The project will additionally see parking spaces for up to 560 vehicles and 374 trailer stalls.
Located at the northeast corner of West Camelback Road and North Alsup Road, the site was purchased from the Alsup 303 Industrial Park for $14.4 million.
As currently anticipated, work on the buildings could begin before the spring of this year.
With more than $10 billion in acquisitions and projects, SteelWave has become a significant development presence in California, Oregon, and Arizona.
By Garry Boulard
