The Glendale, Ariz., City Council approved the annexation and rezoning of 337 acres for two new industrial projects, Organics Loop 303 and Parkway 303 West, according to the Phoenix Business Journal.
Upon completion, the new developments will deliver 4.3 million square feet of manufacturing, warehouse and distribution space along the blossoming Loop 303 Corridor in metropolitan Phoenix.
Russell Organics LLC and Roth Development Corp. comprise the development team behind Organics Loop 303. According to city council documents, the partners had requested that 75 vacant acres at the southwest corner of W. Bethany Home Road and N. Sarival Road, which had been used for agriculture, be annexed and rezoned to planned area development to accommodate the project.
“Annexation of approximately 75 acres of vacant land into the city limits allows the City to determine the type of land uses, influence the type and quality of development and provide employment opportunities to the community,” an October city council report states.
The change in zoning will pave the way for the creation of Organics Loop 303, which will feature two buildings totaling approximately 850,000 square feet. The project has been designed by Butler Design Group and has an estimated cost of roughly $113.8 million, according to a fiscal impact study.
The city council also approved the annexation of 262 acres for Parkway 303 West, Suburban Land Reserve Inc.’s multi-structure project at the southeast corner of Cotton Lane and Peoria Ave. The governing body agreed that the site’s zoning designation as rural residential should be changed to planned area development to accommodate the project’s 3.3 million square feet of manufacturing and warehouse space, in addition to 85,000 square feet of commercial space and a 20-acre Arizona Public Service substation.
According to the recent city council report, an analysis by the Applied Economics consulting firm concluded “that the industrial land use proposed will produce a positive net gain for the City in the short and long term.”
Parkway 303 West’s sizeable industrial segment will cost an estimated $449 million to complete, according to the preliminary fiscal analysis.
More for the corridor
Organics Loop 303 and Parkway 303 West are in the earliest stages, but other industrial projects are popping up along Loop 303 at every turn. According to a third quarter 2021 report by NAI Horizon, “On the west side of the valley, the Loop 303 highway has become the global center for development and hosts a large volume of last-minute industrial delivery.”
Bird Dog Industrial and CRG, Clayco’s development division, have joined forces for the development of The Cubes at Glendale, a 5.5 million-square-foot project that broke ground earlier this year. Hines preleased G303, an approximately 1.3 million-square-foot speculative industrial park, in its entirety to Healthcare Arizona over the summer. And just two weeks ago in mid-November, CA Industrial broke ground on the first phase of Luke Logistics Center, which will ultimately feature 1.5 million square feet across four buildings.