LaSalle Investment Management has acquired Building B at the 303 Crossroads industrial park in Glendale for $109 million, adding a 734,000-square-foot warehouse to its portfolio. The seller was Clarius Partners, which, together with Cresset Partners, developed the two-building industrial complex.
The acquisition gives LaSalle ownership of the entire 98.6-acre, two-building park, which is situated off Loop 303 and Northern Parkway. By purchasing the second building, the firm consolidates control of the full logistics campus within this West Valley industrial corridor.
LaSalle previously bought Building A at 303 Crossroads last summer in a separate transaction totaling $140.2 million, described as one of the largest industrial deals of that year. That first acquisition covered a 1,023,610-square-foot warehouse facility.
Building A is fully leased to Puma, which uses the property as the global sportswear company’s regional distribution center. The facility serves as a logistics hub for the brand’s operations, reinforcing the park’s role as a key node for large-scale distribution activity.
Building B, the most recent acquisition, is leased to Scotts Miracle-Gro. The lawn and garden products company uses the warehouse for manufacturing and distribution, extending the property’s focus on large-format, single-tenant industrial use.
With both buildings leased to major corporate occupiers, LaSalle now controls a contiguous, fully occupied industrial park in Glendale. The combination of long-term users across more than 1.7 million square feet of space positions 303 Crossroads as a significant logistics and distribution asset in the area.
The latest purchase also marks a continuation of investment activity at 303 Crossroads involving institutional capital. Clarius Partners and Cresset Partners took the project from development through lease-up, and LaSalle has now assembled ownership of the entire park through two separate transactions.
While financial terms beyond headline pricing have not been disclosed, the scale of both the $109 million and prior $140.2 million trades underscores the institutional appetite for modern industrial product in established logistics locations. With both buildings committed to large single tenants, the asset represents a stabilized income-producing investment for LaSalle.
