Sep 18, 2020


Articles & Insights

ICM Asset Management Invests in a 270,000 SF Industrial Development In Glendale, AZ

ICM Asset Management Invests in a 270,000 SF Industrial Development In Glendale, AZ

September 18, 2020 (Glendale, AZ) – ICM Asset Management is pleased to announce the investment in a 270,480 SF multi-tenant industrial development in Glendale, AZ with partner Kentwood Holdings. The 21-acre site will contain two industrial buildings with truck court depths between 140’ and 160’ and ceiling heights of 28’. The project will accommodate R&D, light manufacturing, and warehouse/distribution users seeking above standard office buildouts by offering modular floor plans.

The project is located in the Western Planning Area of the City of Glendale, just west of and contiguous to Loop 303. The site provides superior access for small and medium tenants to regional destinations as compared to other West and Central Phoenix alternatives.

 “We are excited to expand our industrial portfolio with an exceptionally well-located project offering a modern build-out catering to the demands of today’s industrial tenants,” said Spencer Patton, ICM’s Managing Director. “We look forward to breaking ground by year-end and expect to deliver this project to market in late 2021.  As we continue to grow our industrial exposure in the United States, we are looking at several additional opportunities in Phoenix and other sunbelt markets including Atlanta, Dallas, and South Florida.” 

The West Valley submarket achieved a vacancy rate of approximately 5.5% in Q1 2020, while industrial construction increased 34% YoY as consumers increasingly rely on e-commerce.  Given the strong population and business growth in Phoenix, this strategic location along the I-10 will benefit from the increased demand for logistics and distribution warehouses into the West Valley.

About ICM Asset Management

ICM Asset Management is an alternative asset manager founded in 2003 to preserve and grow the wealth of retail, private client, and institutional investors looking to diversify their portfolios through the use of alternative asset classes. Today, we manage more than $1 billion of assets on behalf of our investors in an array of investment opportunities focused on real estate, private equity, and alternative income strategies.

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