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LPC Desert West has broken a new record with its latest sale. The developer has sold the first phase of Park 303, a 210-acre development with the ability to accommodate 4 million square feet of industrial space in Glendale, Arizona, a suburb of Phoenix. BentallGreenOak purchased the property for $186 million, highest single-building industrial sale price in Arizona history.

“Park 303 checks all of the boxes for a class-A industrial development—just taken to the next level,” John Orsak, VP at LPC Desert West, tells GlobeSt.com. “Direct freeway frontage and service by two freeway interchanges, premier interior site accessibility via private loop roads, and modern advantages like 40-foot clear height and a very unique outdoor employee amenity space. The building also uses clerestory windows as opposed to skylights, which gives employees blue sky views and makes it easy for a tenant to install full-building air conditioning.” The latter is unique because energy codes prohibit air conditioning with skylights.

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Kelsi Maree Borland

Kelsi Maree Borland is a freelance journalist and magazine writer based in Los Angeles, California. For more than 5 years, she has extensively reported on the commercial real estate industry, covering major deals across all commercial asset classes, investment strategy and capital markets trends, market commentary, economic trends and new technologies disrupting and revolutionizing the industry. Her work appears daily on GlobeSt.com and regularly in Real Estate Forum Magazine. As a magazine writer, she covers lifestyle and travel trends. Her work has appeared in Angeleno, Los Angeles Magazine, Travel and Leisure and more.

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