{"id":11927,"date":"2026-05-27T20:00:00","date_gmt":"2026-05-27T18:00:00","guid":{"rendered":"http:\/\/stocks-future.com\/?guid=418e8e4cd016d1368093cf75237ccb04"},"modified":"2026-05-27T20:00:00","modified_gmt":"2026-05-27T18:00:00","slug":"lovett-industrial-and-peakline-real-estate-funds-break-ground-on-1-1m-sf-north-park-logistics-center-in-metro-phoenix","status":"publish","type":"post","link":"https:\/\/stocks-future.com\/?p=11927","title":{"rendered":"Lovett Industrial and Peakline Real Estate Funds Break Ground on 1.1M SF North Park Logistics Center in Metro Phoenix"},"content":{"rendered":"

GLENDALE, Ariz.--(BUSINESS WIRE)--#CommercialRealEstate<\/a>--Lovett Industrial, a Houston-based real estate investment firm, in partnership with Peakline <\/a>Real Estate Funds (\u201cPREF\u201d)<\/a>, announced today the groundbreaking of North Park Logistics Center, a 1,140,584-square-foot Class A cross-dock facility being developed on approximately 55.68 acres in Glendale, Arizona.<\/p><\/a><\/a><\/a><\/a>

\nLocated in Metro Phoenix\u2019s Southwest Valley, North Park Logistics Center offers immediate access to Northern Parkway, Loop 303, and Interstate 10, providing efficient connectivity to Arizona\u2019s growing consumer base and the broader Western U.S. distribution network.<\/p>

\nThe development is situated within one of the nation\u2019s fastest-growing logistics corridors, home to a diverse concentration of Fortune 500 corporations and globally recognized distribution users. With limited availability of modern large-format product in the Southwest Valley, the project is well-positioned to meet continued occupier demand.<\/p>

\n\u201cThe Southwest Valley has quickly emerged as one of the premier logistics hubs in the Western U.S., and Glendale is one of the most strategic locations within the broader Metro Phoenix market for large-scale regional distribution,\u201d said Charlie Meyer, CEO of Lovett Industrial. \u201cWe continue to see increasing demand from large format occupiers looking to serve both the local market and the broader region. This location checks all the boxes for modern users, with exceptional access to major transportation corridors, a deep and growing labor pool, and a business-friendly environment. We\u2019re excited to partner with PREF on this project and continue expanding our presence in the region.\u201d<\/p>

\nNorth Park Logistics Center will feature 40-foot clear heights, an 8-inch reinforced concrete slab, 197 dock-high doors, 29 knockout panels and ample trailer parking with truck court depths ranging from 185 to 367 feet. The project is being developed on a speculative basis to accommodate a broad range of modern distribution users. Delivery is anticipated in Q2 2027. The development is planned as a multi-phase development, with the second phase totaling approximately 623,000 square feet.<\/p>

\n\u201cWe are proud to partner with Lovett Industrial on a project that reflects the continued strength and long-term growth potential of the Metro Phoenix industrial market,\u201d said Dominic DeRose, Senior Managing Director of PREF. \u201cNorth Park Logistics Center is well positioned to meet the evolving needs of today\u2019s industrial and logistics users, and we believe the project\u2019s scale, location and connectivity make it a highly compelling addition to the region\u2019s logistics infrastructure.\u201d<\/p>

\nMarketing and leasing efforts for North Park Logistics Center will be exclusively handled by John Werstler and Cooper Fratt of CBRE. Bank OZK is the senior construction lender. Willmeng Construction is serving as the general contractor, HPA as the lead architect and Hunter Engineering is serving as the project\u2019s civil engineer.<\/p>

\nNorth Park Logistics Center marks Lovett Industrial\u2019s fifth industrial development in the Western U.S. Other projects include:<\/p>