AN INDUSTRIAL SUCCESS STORY
LPC Desert West built and delivered Park303 Phase 1 within 17 months between March 2020 and August 2021. The project was leased upon delivery to a Fortune 1 retailer and, one month later, was sold to a leading global real estate investor, securing the highest single-building industrial sale price in Arizona history.
Park 303 Phase 1 was one of the first industrial developments in the state to quickly convert two stand-alone buildings (a 705,531-square-foot Building A and 488,995-square-foot Building B) into a single, 1.25 million-square-foot facility to meet the needs of a major single user.
“The flexibility, location and high-tech, high-velocity e-commerce fulfillment capabilities of Park303 not only cemented our full-building lease but also attracted a buyer who recognized significant long-term value that these advantages bring to this premier industrial asset.”