A Glendale Puma distribution center was recently sold for $140.2 million. The million-square-foot warehouse, at 8900 N. Sarival Ave., was sold by Clarius Partners. The Phoenix Business Journal reports the buyer, LaSalle Investment Management, put $90 million down and obtained $50 million in debt from Thrivent Financing for Lutherans. Three years ago, Puma agreed to a 15-year lease at the location. The highly automated warehouse, which went into operation in 2024, is on the Loop 303 corridor.
The warehouse is part of an industrial park developed by Clarius Partners and Cresset Real Estate Partners. The park also includes a 735,000-square-foot building, for which Scotts Miracle-Gro is the tenant.
Cushman and Wakefield’s Will Strong, Molly Hunt, Jack Stamets, Michael Matchett and Madeline Warren represented both the buyer and the seller.
The post Puma’s Glendale Warehouse Sells for $140.2M appeared first on Connect CRE.
