Two Glendale industrial buildings sell for $170M in state-record deal

Article originally posted on Phoenix Business Journal on August 26, 2026

Two fully leased buildings at a massive industrial park in Glendale sold for $170,250,000 on August 24, according to Maricopa County records.

The buildings, which are located at Park 303, traded hands from the developer, Lincoln Property Company, to entities tracing to Nuveen Real Estate, according to Tempe-based real estate database Vizzda LLC.

The deal marks the highest two-building industrial sale price in state history, according to Lincoln.

The buildings included in the latest deal total roughly 1.1 million square feet, with the first coming in at 629,835 square feet and the next at 483,300 square feet. The first is fully leased to DHL, while the second is fully leased to Logisticus Group LLC.

The entire Park303 campus is a 210-acre, four-building logistics park amounting to 3.75 million square feet. It’s located along the Loop 303 and Glendale Avenue, near Luke Air Force Base.

The other two buildings are also fully leased and sold to a user and an investor.

Dollar Tree scooped up Building C, which totals 1.25 million square feet, for $147,066,005 last September. That facility is serving as Dollar Tree’s first regional distribution facility in Phoenix.

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