Partners Group JV Lands $122M for Phoenix Logistics Campus
Construction on the 1.2 million-square-foot property concluded earlier this year.
Partners Group and ViaWest Group have secured $122 million in bridge financing from Pacific Life Insurance Co. for The Base, a newly delivered industrial campus totaling about 1.2 million square feet across seven buildings in Glendale, Ariz. JLL Capital Markets arranged the loan.
Partners Group holds the majority stake in the joint venture that owns The Base, construction on which was completed earlier this year.
The property previously received $96.5 million in construction financing from Bank OZK in September 2023, according to Yardi Matrix.
READ ALSO: Industrial Construction Starts Remain Volatile Amid Slowdown
The Base features 32- to 36-foot clear heights, heavy-power capabilities ranging from 3,000 to 6,000 amps, ESFR sprinkler systems and R-38 roof insulation. The campus accommodates 222 dock-high doors, 39 grade-level doors, 105 trailer parking spaces and 1,363 auto parking spaces. The property can accommodate single- or multi-tenant configurations across varying suite sizes.
The 82.5-acre site is at the northwest corner of Litchfield and Bethany Home roads in the West Valley, offering connectivity to metro Phoenix via Loop 303, Loop 101 and Interstate 10. The campus is also within five miles of Glendale Municipal Airport, 7.5 miles of Phoenix-Goodyear Airport and 26 miles of Phoenix Sky Harbor International Airport.
The Base is also proximate to Luke Air Force Base, which employs more than 7,000 military and civilian personnel and generates $2.8 billion in annual economic impact, according to JLL.
The JLL team was led by Capital Markets President Kevin MacKenzie, Senior Director Jason Carlos and Senior Analysts Lilley Kroll and Ross Jorgensen.
Phoenix maintains momentum
The Phoenix region’s industrial sector started 2026 with ample momentum, including construction activity well ahead of the national average and strong pricing among its peer industrial markets, according to a Yardi Matrix report.
Last November, ViaWest Group and Barings obtained $107 million in construction financing for ReDiscover Logistics Park, an 808,448-square-foot industrial development in Phoenix’s Deer Valley submarket. It was the largest speculative construction loan in Arizona of the year, according to JLL Capital Markets, which secured the financing from a life insurance company on behalf of the developers.
You must be logged in to post a comment.