The Cubes at Glendale changes hands, Cushman & Wakefield reports
Staff Reports | Digital Free Press
Cushman & Wakefield has advised Chicago-based CRG, a real estate development and investment management firm, in the sale of The Cubes at Glendale – Building B.
The asset consists of about 1.2 million-square-foot Class A industrial warehouse building found along Loop 303 Corridor in Glendale whereas the state-of-the-art, single-tenant facility was 100% leased at the time of sale, according to a press release.
Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Dean Wiley of the firm’s national industrial advisory group – Mountain West Team represented the seller in the disposition. The property was acquired by funds and accounts managed by BlackRock for an undisclosed price, Cushman & Wakefield officials tell the Digital Free Press.
The Cubes at Glendale features 4.8 million square feet on 335 acres of Class A industrial space with potential future phases. In 2022, CRG successfully completed construction on Building A – a 1.2-million-square-foot industrial building leased to Williams Sonoma and sold to LaSalle Investment Management. Building D – a 637,000 SF industrial building that sold to US Merchants; and Building E – a 570,080 SF Class A industrial warehouse building that sold to Fundrise in 2023.
“The sale of The Cubes at Glendale – Building B signals the ongoing demand and strength of The Cubes brand and CRG’s broader Southwest industrial development strategy amid strong user and investor demand,” Mr. Strong said in a prepared statement. “Supported by a premier credit tenant, The Cubes at Glendale has been a great success story due to its exceptional location and remarkable product and features.”
