Lincoln Property Co. announced the sale of the final two Class A industrial buildings at its Park303 logistics park in Glendale, Arizona, for $170 million, according to Vizzle.
Record-Breaking Industrial Sale in Glendale
The sale comprises Park303 Phase 2 Building A, a 629,835-square-foot facility fully leased to DHL, and Building B, spanning 483,000 square feet and fully leased to Logisticus Group LLC.
Lincoln Senior Executive Vice President David Krumwiede stated in a press release that the development succeeded despite launching during pandemic-related uncertainty. The campus’s strategic location and flexible leasing options helped drive its success.
Campus Scale and Prior Transactions
Completed in 2025, Park303 Phase 2 includes three buildings totaling 2.5 million square feet. The project’s Building C previously sold in October 2025 to Dollar Tree for $147 million, establishing a regional distribution facility for the company in metro Phoenix. Phase 1 of the development, completed in late 2020, covers 1.25 million square feet and is fully occupied by Walmart under a long-term lease. That initial building was purchased by BentallGreenOak in 2021 for $186 million, which at the time marked the highest single-building industrial sale price in Arizona history.
Lincoln executive vice president John Orsak noted that sophisticated, disciplined investors with deep market understanding have acquired all buildings within the campus. Will Strong and Molly Miller of Cushman and Wakefield represented Lincoln in the final Phase 2 building sales.
Amenities and Regional Connectivity
Developed using Lincoln’s “creative industrial” framework, Park303 integrates features such as speculative office space, outdoor pickleball and basketball courts, and an outdoor entertainment area equipped with seating and overhead fans. The LEED-certified campus is foreign trade zone-capable and sits near two full-diamond Loop 303 freeway interchanges, Interstates 10 and 17, and Northern Parkway, providing trucking access to more than 33 million consumers within a single day.
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