Echo Real Estate Capital and Grandview Partners sold a class-A industrial building leased to Hubstarr Logistics for $39 million dollars.
The property, known as “Building A” in Echo Park 303, is approximately 220,240 square feet and is located at 9701 North 151st Avenue in Glendale, Arizona—two miles east of Loop 303 and in the heart of the Wolf Logistics Park. At the time of sale, HubStarr Logistics, a regional third-party logistics solutions company, was 100% occupied. Cushman and Wakefield represented the seller in this transaction.
This sale is Echo’s first disposition in the Arizona market. Since 2022, Echo has developed six (6) industrial buildings in the West Valley. Echo Park 303 also features a 455,000-square-foot cross-dock warehouse that is currently listed for lease with JLL.
Echo’s Jon Boyajian added, “The market fundamentals and growth indicators for Pheonix remain strong. We are long term believers in Phoenix’s position as a tier-1 industrial market.”
