Just outside Glendale’s city limits, Luke Airforce Base sits alongside the Loop 303 corridor. Presently, the base and the highway are surrounded by mostly farmland. However, according to a recent report, this remote area could be an essential site of industrial development in the near future. Here are some reasons why the Loop 303 area may be the next place to invest.
Preparations for Industrial Growth in Glendale
Located approximately nine miles northwest of downtown Phoenix, Glendale is home to about 250,000 Maricopa County residents. Since the Glendale city council approved the activation of the 303 corridor last year, the city has experienced significant industrial commercial real estate growth. For example, recently, Red Bull announced that it was opening its first North American manufacturing facility in Glendale. News of plans for the development of Park 303, a massive industrial complex in the area, have also spurred commercial interest. Recent water and sewer infrastructure projects have improved the marketability of the community, and the city has been annexing hundreds of acres of land in anticipation of commercial growth. City planners have announced intentions to expand the limits of Glendale farther west to create an industrial district they refer to as the “New Frontier.”
Developments Along Loop 303
As commercial interest grows in the West Valley, investors have been buying and developing land around the Loop 303 corridor. Corporate giants such as Sub-Zero, REI, Amazon, and Dick’s Sporting goods have had industrial operations along Loop 303 for some time. As industrial developments continue to move north, it’s expected that Glendale will be a central location for business interests.
Glendale’s Expected Growth and Quality of Life
Glendale anticipates adding 21,000 new jobs through its expansion. With these new developments, it’s expected that more companies will set up their operations in and around Glendale. With its shorter commute to metro Phoenix, rail connectivity, proximity to I-10 and Loop 303, Glendale is already attracting commercial investment. Additionally, this community offers a quality of life that appeals to residential buyers looking to live and work in the area.
With these signs of economic growth, investment in Glendale may be a good decision. However, it’s essential to consider several crucial details before buying or selling real estate. Laura B. Bramnick is an Arizona real estate attorney who has experience assisting sellers and buyers with their real estate purchases and sales. She has the skills and expertise to advise you during all aspects of your transaction. If you are seeking an exceptional, client-driven real estate lawyer in Scottsdale, Phoenix, Sedona, and throughout the State of Arizona, contact Laura B. Bramnick to schedule your consultation.