PHOENIX — A Dollar Tree distribution center is coming to Glendale after a recent purchase of a 1.25 million-square-foot building, a Wednesday press release announced.
The distribution center will be the first for the brand in the Phoenix market at Lincoln Property Company’s Park303, which is located near Glendale Avenue and the Loop 303. It will occupy Building C on the 3.75 million-square-foot parcel of land.
The deal was completed for $147,066,005, which was brokered by CBRE’s Reid Wilbraham and Cooper Fratt.
“Dollar Tree’s site selection process prioritized a modern workplace and a facility that was both operationally efficient and able to remain flexible in a fast-changing market,” Lincoln Property Company Senior Executive Vice President David Krumwiede said in the release. “Park303 gives them all of this, from its immediate amenity advantages to its ability to support modification – including Dollar Tree’s plans to further expand the site’s trailer parking capacity to meet the company’s unique logistical needs.”
Building B has already been fully leased by Logisticus Group while Building A is “receiving strong lease and sale interest,” according to the release.
Dollar Tree joined a Walmart, which BentallGreenOak bought a long-term lease in 2021 for an Arizona industrial sale record $186 million.
Nearby neighbors include Boeing, Microsoft and UPS. Other amenities at Park303 include a pickleball and basketball court, “an outdoor entertainment area,” and office space.
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