Hines has acquired Cactus 303, a shovel-ready development site located in the West Valley of Phoenix off Loop-303, entitled for a three-building, class-A industrial project totaling 572,282 square feet. Construction is expected to begin this summer.
The development comprises a 395,000-square-foot cross-dock building and two rear-load buildings of 102,000 and 75,000 square feet, respectively, with a layout designed to support both single-tenant and multi-tenant leasing strategies and meet best-in-class standards. Configurations are available down to approximately 18,000 square feet in Building C.
Located in Greater Phoenix’s Northwest Valley in Surprise, just off Loop 303, the site offers exceptional freeway visibility, immediate access to new master-planned amenities, and a business environment anchored by both high-growth, innovative companies and established international headquarters.
The financing was arranged by a JLL team led by Kevin MacKenzie, Jarrod Howard, Frank Choumas and Lilley Kroll. Riley Gilbert and John Lydon led the land sale transaction and lead the leasing assignment for the project.
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