Represents the final building sales at four-building Park303 logistics campus
Glendale, AZ (August 27, 2026) — Lincoln Property Company (“Lincoln”), a global, full-service real estate firm with over $31 billion of assets under management, has announced the sale of the final two Class A industrial buildings at its award-winning Park303 logistics park.
Purchased by a leading global investment manager, the transaction achieved the highest two-building industrial sale price in Arizona history.
It also represents the last of four buildings sold at Park303, a 210-acre, 3.75 million-square-foot, LEED-certified logistics campus developed by Lincoln along the Loop 303 freeway and Glendale Avenue in Glendale, Arizona.
“Park303 has been a resounding success by every measure,” said Lincoln Senior Executive Vice President David Krumwiede. “We launched the project during the uncertainty of the pandemic, but its strategic location, best-in-class amenities and flexible mix of leasing and ownership opportunities quickly distinguished the development, attracting leading tenants and ultimately making the buildings highly desirable institutional investments.”
The final Park303 acquisitions include Park303 Phase 2 - Building A, totaling 629,835 square feet and fully leased to DHL, and Park 303 Phase 2 - Building B, totaling 483,000 square feet and fully leased to Logisticus Group LLC.
Completed in 2025, Park303 Phase 2 encompasses three buildings totaling 2.5 million square feet. The project’s Building C sold in October 2025 to Dollar Tree for $147 million, establishing the company’s first regional distribution facility in metro Phoenix.
Completed in late 2020, Park303 Phase 1 totals 1.25 million square feet and is fully occupied under a long-term lease by Walmart. That building was purchased by BentallGreenOak in 2021 for $186 million, marking the highest single-building industrial sale price in Arizona history.
“All of the buildings at Park303 have been acquired by sophisticated, disciplined investors and operators with a deep understanding of the industrial market and its standards of quality,” said Lincoln Executive Vice President John Orsak. “Their decision to add Park303 to their portfolios is a meaningful endorsement of this project and a tremendous compliment to what we have created here.”
Buildings at Park303 feature 40’ clear height, 25’ tall glass entries, up to 12,000 amps of power, 7” slabs over 4” of crushed rock, and the steel moment frame shear bracing needed to support highly modern, automated racking and picking equipment. Large 5’ x 10’ clerestory windows also run along the building’s interiors, providing employees with access to sky views and natural light.
Following Lincoln’s “creative industrial” approach to Class A industrial development, Park303 also incorporates elevated amenities including high-end speculative office space, an outdoor pickleball and basketball court, and an outdoor entertainment area with gourmet barbeques, overhead fans and seating.
Park303 is proximate to two full-diamond Loop 303 freeway interchanges, Interstates 10 and 17, and Northern Parkway. The project is also Foreign Trade Zone-capable and can reach more than 33 million consumers within a one-day truck haul.
Will Strong and Molly Miller of Cushman & Wakefield represented Lincoln in the final Park303 Phase 2 building sales.
To discuss leasing and development opportunities with Lincoln, contact David Krumwiede or John Orsak at (602) 912-8888.