Hines and Oaktree buy 75 acres in Glendale to build G303

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AZRE | AZBigMedia

Hines, the international real estate firm, together with funds managed by Oaktree Capital Management, L.P., today announced they have closed on the property for the future development of two speculative industrial buildings, each 569,520 square feet in size, in the City of Glendale.  The project, located just off of Loop 303 between Glendale Avenue and Bethany Home Road, will be known as “G303” – short for Glendale 303.

G303 will be a two-phase state-of-the-art industrial/logistics park, whose first phase will consist of 569,520 square feet and feature 40’ clear height and 50’ by 56’ column spacing with 60’ speed bays.  It will include 80 dock-high loading doors (with 200-foot truck courts), along with the ability to accommodate more than 600 car parking stalls within Phase I.  G303 is the only cross dock building in the 500,000-600,000-square-foot size range out of existing inventory, under construction buildings, or permit ready buildings.  The project is expandable to a single, 1.2M-square-foot building if needed to meet a major tenant requirement.

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