{"id":1004547317,"date":"2021-08-12T04:25:39","date_gmt":"2021-08-12T12:25:39","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004547317"},"modified":"2022-12-09T02:12:30","modified_gmt":"2022-12-09T10:12:30","slug":"cresset-clarius-buy-98-acres-for-phoenix-area-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/","title":{"rendered":"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project"},"content":{"rendered":"<div id=\"attachment_1004547322\" style=\"width: 310px\" class=\"wp-caption alignright\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004547322\" data-attachment-id=\"1004547322\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/303-crossroads-image-courtesy-of-cresset-real-estate-partners-and-clarius-partners-2\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg\" data-orig-size=\"806,604\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners\" data-image-description=\"&lt;p&gt;303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg?w=806\" class=\"size-medium wp-image-1004547322\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg?w=300\" alt=\"\" width=\"300\" height=\"225\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg 806w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><p id=\"caption-attachment-1004547322\" class=\"wp-caption-text\">303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners<\/p><\/div>\n<p>Cresset Real Estate Partners and Clarius Partners have closed on the land acquisition for 303 Crossroads, a nearly 1.8 million-square-foot logistics development on a 98-acre site in Glendale, Ariz. Groundbreaking is scheduled for this October.<\/p>\n<p>The project is set to consist of two buildings in separate phases on land fronting Loop 303 and Northern Parkway. The first will encompass a little over 1 million square feet and is scheduled for completion in 2022. Building two will be 734,800 square feet and is slated for a 2023 completion.<\/p>\n<p>Targeting e-commerce, distribution and warehousing users, both buildings will include cross-dock configurations, 40-foot clear heights and above-market parking ratios, as well as direct frontage on both Loop 303 and Northern Parkway.<\/p>\n<p>The project team includes Butler Design Group, Hunter Engineering, Layton Construction and CBRE.<\/p>\n<h2><strong>Hot market in the Valley of the Sun <\/strong><\/h2>\n<p>Metro Phoenix has set a record for new industrial development, with 18 million square feet now underway, 16.4 million of it warehouse\/distribution space, according to a second-quarter report from JLL. Meanwhile, net absorption has been outrunning deliveries, and total vacancy fell 70 basis points from the first quarter, to 7.6 percent.<\/p>\n<p>In March 2020, Cresset and Diversified Real Estate Capital <a href=\"https:\/\/www.commercialsearch.com\/news\/qualified-opportunity-zone-fund-closes-at-465m\/\">closed the Cresset-Diversified QOZ Fund<\/a>, their first Qualified Opportunity Zone fund, at $465 million in total capital commitments. The companies promptly began work on a follow-on QOZ fund.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial development, scheduled to kick off this year, will comprise 1.8 million square feet. <\/p>\n","protected":false},"author":882,"featured_media":1004547322,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21748,21742,1601,15],"tags":[38006,32789,51050,51159,38007],"class_list":["post-1004547317","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-industrial","category-latest","category-phoenix","category-west","tag-butler-design-group","tag-cbre","tag-clarius-partners","tag-cresset-real-estate-partners","tag-layton-construction-company"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Cresset, Clarius Buy 98 Acres for Phoenix-Area Project - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project\" \/>\n<meta property=\"og:description\" content=\"The industrial development, scheduled to kick off this year, will comprise 1.8 million square feet.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-08-12T12:25:39+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T10:12:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"806\" \/>\n\t<meta property=\"og:image:height\" content=\"604\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/\",\"name\":\"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg\",\"datePublished\":\"2021-08-12T12:25:39+00:00\",\"dateModified\":\"2022-12-09T10:12:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\"},\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg\",\"width\":806,\"height\":604,\"caption\":\"303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555\",\"name\":\"Scott Baltic\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96\",\"caption\":\"Scott Baltic\"},\"description\":\"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/","og_locale":"en_US","og_type":"article","og_title":"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project","og_description":"The industrial development, scheduled to kick off this year, will comprise 1.8 million square feet.","og_url":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2021-08-12T12:25:39+00:00","article_modified_time":"2022-12-09T10:12:30+00:00","og_image":[{"width":806,"height":604,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg","type":"image\/jpeg"}],"author":"Scott Baltic","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/","url":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/","name":"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg","datePublished":"2021-08-12T12:25:39+00:00","dateModified":"2022-12-09T10:12:30+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg","width":806,"height":604,"caption":"303 Crossroads. Image courtesy of Cresset Real Estate Partners and Clarius Partners"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/cresset-clarius-buy-98-acres-for-phoenix-area-project\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Cresset, Clarius Buy 98 Acres for Phoenix-Area Project"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/61ac1450f3ffaa0e850b834c28526555","name":"Scott Baltic","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/06\/Scott.jpg?w=96","caption":"Scott Baltic"},"description":"Scott Baltic has been a contributing editor with Commercial Property Executive since 2011 and also wrote for its predecessor, Commercial Property News. He started writing about CRE in 1988 for a group of Chicago-based publications and in 1989 became the editor of Midwest Real Estate News. After moving on from there in 1991, Baltic continued writing occasionally about real estate, for publications like the Chicago Sun-Times, National Real Estate Investor, Urban Land, Shopping Center World and Architect\u2019s Newspaper. He earned a master\u2019s in journalism from Northwestern University\u2019s Medill School of Journalism and has a bachelor\u2019s from North Park University.","url":"https:\/\/www.commercialsearch.com\/news\/author\/scott-baltic\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/08\/303-Crossroads.-Image-courtesy-of-Cresset-Real-Estate-Partners-and-Clarius-Partners-2-e1628771102332.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004547317","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/882"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004547317"}],"version-history":[{"count":4,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004547317\/revisions"}],"predecessor-version":[{"id":1004547351,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004547317\/revisions\/1004547351"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004547322"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004547317"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004547317"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004547317"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}