Hines secures joint venture equity for Cactus 303 industrial development in Surprise, Arizona

Hines secured joint-venture equity financing for the development of Cactus 303, a 572,282-square-foot Class A industrial project in Surprise, Arizona. The three-building development spans 36.8 acres along Cactus Road in the Loop 303 corridor of West Valley Phoenix, featuring two rear-load facilities and one cross-dock building with clear heights ranging from 32 to 36 feet. The project includes 144 dock-high doors, eight grade-level doors, and 61 trailer parking stalls, offering flexible space for diverse industrial users. Located near major transportation hubs, including the Port of Long Beach and Phoenix Sky Harbor International Airport, the development provides immediate access to Interstate 10, I-17, and Northern Parkway. JLL Capital Markets arranged the equity financing for the borrower, facilitating the shovel-ready status of the project.

Counterparts (2)

advisor

JLL Capital Markets

company · 1 deals

Chicago-based commercial real estate services firm (Jones Lang LaSalle) with a dedicated Capital Markets division providing investment advisory services across real estate sectors globally. Operates as a subsidiary of Jones Lang LaSalle IP, Inc. with 200+ years of commercial real estate leadership.

Developer

Hines

company · 2 deals

Hines is a global real estate investment, development, and management firm with $93.2 billion in assets under management across 30 countries as of Q4 2023. The company focuses on diverse real estate sectors including office, residential, logistics, and mixed-use properties, with a growing emphasis on sustainable development.