Cushman & Wakefield advises sale of premier new 220,240 SF industrial building in Glendale, AZ

Cushman & Wakefield has advised the sale of Echo Park 303 – Building A, a newly built 220,240-square-foot (SF) Class A industrial building on ±13.7 acres in Glendale, Arizona. Situated in Phoenix’s booming Loop 303 industrial corridor in the Southwest Valley submarket, the freestanding building located at 9701 North 151st Avenue is 100% leased to HubStarr Logistics. The asset is part of a larger 38.6-acre industrial business park that includes a second Class A building featuring 455,936 SF.

The property sold to LBA Logistics, a Southern California based national vertically integrated real estate company focused on the ownership and operation of industrial buildings. The seller was Echo Real Estate Capital, Inc. in a joint venture with Grandview Partners—both full-service real estate investment firms. The project was originally designed by LGE Design Build.

Cushman & Wakefield’s Will Strong, Molly Hunt, Michael Matchett, Madeline Warren, and Jack Stamets of the firm’s National Industrial Advisory Group—Mountain West represented the seller in the transaction.

“This is a top-tier industrial asset with strong institutional appeal, thanks to its long-term single tenancy and solid stability. The building stands out as a true Class A facility with cutting-edge design, excellent functionality, and easy freeway access. Plus, being in a prime market alongside major global companies, it’s well-positioned for continued value growth—making it a great addition to the buyer’s expanding industrial portfolio,” said Will Strong, Executive Vice Chair.

According to Cushman & Wakefield’s latest Q4 2024 market report, the Southwest Valley recorded a substantial 12.8 MSF of occupancy growth in 2024, outperforming all other submarkets in the Phoenix Metro area by a wide margin. The next best submarket performance was the Northwest Valley with roughly 5 MSF of occupancy gains in 2024.

“The Southwest Valley is seeing a surge in demand for warehouse and logistics space, thanks to its prime location near major transportation hubs like rail lines and the I-10, I-17, Loop 101, and Loop 202 freeways. Plus, with the Southern California ports just a six-hour drive away, it’s an ideal spot for companies looking to streamline distribution and logistics,” added Molly Hunt, Senior Associate.