{"id":1004818467,"date":"2026-11-11T05:46:45","date_gmt":"2026-11-11T13:46:45","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004818467"},"modified":"2026-11-11T06:07:19","modified_gmt":"2026-11-11T14:07:19","slug":"panattoni-lands-59m-refi-for-phoenix-logistics-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/panattoni-lands-59m-refi-for-phoenix-logistics-campus\/","title":{"rendered":"Panattoni Lands $59M Refi for Phoenix Logistics Campus"},"content":{"rendered":"
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Northern Parkway Logistics Center in Glendale, Ariz., totals 445,187 square feet across three buildings and was 57.9 percent leased at the time of refinancing. Rendering courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

Panattoni Development Co. has secured a $58.7 million refinancing for Northern Parkway Logistics Center, a 445,187-square-foot Class A industrial campus at 12815 and 12795 W. Northern Ave. in Glendale, Ariz. JLL Capital Markets arranged the three-year, floating-rate loan through Mesa West Capital.<\/p>\n\n\n\n

The financing is intended to support the continued lease-up and stabilization of the newly completed Class A industrial development.<\/p>\n\n\n\n

Northern Parkway Logistics Center was delivered in 2025 and comprises three industrial buildings on about 30 acres within Northern Parkway Logistics Hub, a master-planned industrial development in Phoenix’s West Valley.<\/p>\n\n\n\n

The project was 57.9 percent leased at closing. Features include 32- to 36-foot clear heights, 73 dock-high doors, eight grade-level doors, heavy power capabilities ranging from 3,000 to 6,000 amps, ESFR sprinkler systems, 62 trailer parking stalls and 451 vehicle parking spaces. The buildings are designed to accommodate logistics, distribution, manufacturing and other industrial uses, including single- and multi-tenant configurations.<\/p>\n\n\n\n

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READ ALSO<\/strong>: Why Refinancing Is Recovering Faster Than Sales<\/a><\/p>\n\n\n\n

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The site is between Loop 101 and Loop 303, with direct access to the region’s primary transportation corridors and proximity to Luke Air Force Base, as well as supporting regional distribution operations.<\/p>\n\n\n\n

JLL’s team included Senior Director Jason Carlos, Associate Frank Choumas and Analysts Ross Jorgensen and Andrew Mings.<\/p>\n\n\n\n