GREENWICH, CT, (March 11, 2025) – Grandview Partners, in partnership with Echo Real Estate Capital Inc., has sold 9701 North 151st Ave in Glendale, Arizona, to LBA Logistics. The freestanding, Class A industrial building, totaling 220,240 square feet, is 100% leased to HubStarr Logistics.
Located in Phoenix’s thriving Loop 303 industrial corridor, the newly constructed property is part of a 38.6-acre industrial business park in the Southwest Valley submarket. This region has experienced sustained growth, fueled by strong demand for high-quality industrial space. According to Cushman & Wakefield’s latest Q4 2024 market report, the Southwest Valley recorded a substantial 12.8 million square feet of occupancy growth in 2024, outperforming all other submarkets in the Phoenix Metro.
“We are excited to announce the successful sale of this premier industrial asset in Phoenix, reflecting the continued strength and demand for institutional assets in the Southwest Valley submarket,” said Michael Paloian, Managing Director at Grandview Partners. “This transaction highlights our ability to identify evolving industrial nodes and developing modern industrial buildings for today’s tenants.”
The Southwest Valley is seeing a surge in demand for warehouse and logistics space thanks to its prime location near major transportation hubs like rail lines and the I-10, I-17, Loop 101, and Loop 202 freeways. Its strategic location—just six hours from the Southern California ports—makes it ideal for companies looking to streamline distribution and logistics. Additionally, Phoenix has been one of the fastest-growing markets in the country over the past decade, with its population expanding significantly due to its affordability compared to other major metropolitan areas like Los Angeles and San Diego.
“Situated in a premier Industrial market alongside Amazon, Boeing, Red Bull, and Ball, the booming Loop 303 industrial corridor is fueled by a strong labor market, world-class market access, a favorable tax environment, and lower operating costs.,” said Raj Menon, Chief Executive Officer, Grandview Partners. “Modern industrial buildings like this continue to outperform older properties, aligning with Grandview’s strategy to invest in modern, well-located assets that meet today’s tenant needs.”
The property was developed with state-of-the-art features, including optimal loading capabilities, multiple access points, full-building HVAC, ample parking, and a substantial power supply, ensuring long-term tenant demand. LGE Design Build, a recognized leader in high-quality industrial development, designed the project.
Cushman & Wakefield’s National Industrial Advisory Group – Mountain West represented the seller, Grandview Partners, in a joint venture with Echo Real Estate Capital Inc.