Lincoln Property Co. has sold a 1.25 million-square-foot, class A industrial building within its award-winning Park303 logistics park in the Phoenix area to Dollar Tree. The sales price is estimated to be more than $147 million.
Park303 totals 210 acres and 3.75 million square feet of industrial space along the Loop 303 at Glendale Ave. in Glendale, Ariz. Built in two phases, it includes a 1.25 million-square-foot, single-building Phase 1 and a 2.5 million-square-foot, three-building Phase 2.
Dollar Tree purchased Park303 Phase 2 Building C. It will establish a regional distribution center at the site, marking the company’s first regional distribution facility in the metro Phoenix market.
At Park303, Dollar Tree joins existing Phase 2 tenant Logisticus Group, a third-party logistics leader leasing the 483,300-square-foot Building B.
Park303 Phase 1 is also fully occupied under a long-term lease by Walmart. The Phase 1 building was sold in 2021 to BGO fo
