Rockefeller JV Eyes 550 KSF Phoenix Logistics Facility

August 7, 2026

Industrial Development Investment News More Office Phoenix West

Construction is expected to begin later this year.

Rockefeller Group has purchased a 34.1-acre logistics site in Glendale, Ariz., from IndiCap Inc. and its undisclosed capital partner for the development West Olive Logistics Center, a 552,000-square-foot, speculative industrial facility. Rockefeller and IndiCap are partnering on the project.

West Olive Logistics Center will be a cross-dock industrial building designed to accommodate logistics, distribution and manufacturing tenants. It will offer a 40-foot clear height, 90 dock-high doors, four drive-in doors, 195 trailer parking spaces, 521 car parking spaces and truck court depths ranging from 200 feet to 260 feet. Construction is scheduled to begin in the fourth quarter of this year.

The asset is part of a 111.7-acre master-planned development that already features three Class A industrial buildings totaling more than 1 million square feet. Those buildings were delivered in the first quarter of 2024 as part of Phase I and have since been fully leased.

The site is located at the northwest corner of West Olive Avenue and North Reems Road in Glendale. Situated within the Loop 303 Corridor, the location offers regional and interstate distribution capabilities via immediate access to Loop 303 and Northern Parkway.

Cushman & Wakefield’s National Industrial Advisory Group—Mountain West, led by Executive Vice Chair Will Strong and including Directors Jack Stamets, Molly Miller and Michael Matchett and Senior Financial Analyst Madeline Warren, represented the sellers in the land sale and arranged the joint venture equity. Cushman & Wakefield Executive Vice Chairs Mike Haenel, Andy Markham and Phil Haenel, along with Director Justin Smith, will handle leasing for the property.

A semiconductor powerhouse

TSMC’s massive and years-long investments in advanced semiconductor manufacturing in metro Phoenix helped trigger the launch of the $7 billion, 2,300-acre Halo Vista innovation district under construction nearby, according to a second-quarter industrial market report from Kidder Mathews. Together, these mega-projects are elevating the metro’s stature as a major semiconductor and advanced technology hub.

Glendale itself has a total vacancy of 12.7% on an inventory of 59.0 million square feet, Kidder Mathews reported. Year-to-date direct net absorption has been about 6.3 million square feet, and 4.3 million square feet is under construction.

In May, Lovett Industrial broke ground on North Park Logistics Center, a 1.1 million-square-foot cross-dock facility on about 56 acres in Glendale. Lovett is partnering with Peakline Real Estate Funds on the project, which is expected to deliver in the second quarter of 2027.