The first speculative industrial building of more than 1 million square feet developed locally in more than three years has been fully leased before completion.
VanTrust Real Estate’s VT 303 North, a 1.14 million square foot facility, is under construction at Northern Avenue and Reems Road in Glendale.
“Our project partners have done an outstanding job in delivering this high-quality building to market at a time when metro Phoenix is once again a top choice for leading corporate logistics firms,” stated Keith Earnest, executive vice president of VanTrust Real Estate, in a press release.
VanTrust broke ground on VT 303 North in December 2025. At that time, VanTrust was the first developer to begin work on a speculative industrial facility of more than 1 million square feet in three years. Strong demand for bulk distribution facilities, coupled with a dwindling supply, made it an opportune time to commence construction.
Butler Design Group designed the facility, with Layton Construction serving as the general contractor. The building is situated half a mile south of Northern Parkway and 5 miles north of I-10.
This location grants access to more than 33 million consumers within a single day’s drive. The project is scheduled for completion in December.
“VanTrust has a phenomenal team, and we appreciate their continued investment in Glendale,” stated Randy Huggins, Glendale director of development services.
Cooper Fratt and John Werstler of CBRE represented VanTrust in the transaction. The tenant was represented by Charlotte Elstob, Dan McGillicuddy, Kelly Royle, Marc Hertzberg, and Tony Lydon of JLL.