Glendale warehouse sale becomes Phoenix's largest industrial transaction of the year
The Glendale facility was acquired by an entity connected to BlackRock Realty Advisors.
Glendale, Arizona: In the largest single-building industrial transaction of the year for the Phoenix metro area, a 1.2 million-square-foot warehouse fully leased to Amazon has been sold.
The Glendale facility was acquired by an entity connected to BlackRock Realty Advisors for $128.1 million in an all-cash deal. This transaction translates to more than $100 per square foot, according to records from Maricopa County and the Arizona Corporation Commission.
Amazon signed a full-building lease for the warehouse in March, committing to a 10-year term.
The warehouse was developed by Chicago-based CRG, and is part of the 335-acre Cubes at Glendale industrial park.