BlackRock buys Cubes at Glendale building from CRG

CRG, the Chicago-based real estate development and investment management firm, recently sold Building B of The Cubes at Glendale to funds and accounts managed by BlackRock for an undisclosed price.

The 1.2 million square foot single-tenant facility at at 15301 W. Northern Ave., in Glendale  was 100% leased at the time of sale. The Cubes at Glendale features 4.8 million square feet on 335 acres of best-in-class Class A industrial space and potential future phases.

In 2022, CRG completed construction on Building A – a 1.2 million square foot industrial building leased to Williams Sonoma and sold to LaSalle Investment Management. That year also saw the unveiling of Building D – a 637,000 square foot industrial building that sold to US Merchants; and Building E – a 570,080 square foot Class A industrial warehouse building that sold to Fundrise in 2023.

Cushman & Wakefield’s Will Strong, Michael Matchett, Molly Hunt, and Dean Wiley of the firm’s National Industrial Advisory Group – Mountain West team represented the seller in the disposition.

“Supported by a premier credit tenant, The Cubes at Glendale has been a great success story due to its exceptional location and remarkable product and features,” stated Will Strong, Executive Vice Chair with Cushman & Wakefield., in a press release.

The Cubes at Glendale – Building B is minutes from the confluence of Loop 303 and the Northern Parkway, with ideal transportation links to serve Arizona and key markets including Southern California, Nevada, Utah, Colorado, and New Mexico.