Lincoln Property Co. Begins Construction on 2.5 Million s.f. Park303 Phase 2
GLENDALE, Arizona, March 7, 2022 – Following its record-breaking sale of Park303 Phase I, LPC Desert West, the Southwest arm of Dallas-based Lincoln Property Co., has kicked off construction of Park303 Phase 2. The new phase will bring nearly 2.5 million square feet in three new state-of-the-art industrial buildings fronting the Loop 303 in Glendale, Arizona.
Park303 Phase I was sold in September, 2021 to BentallGreenOak for $186 million, marking the highest single-building industrial sale price in Arizona history. The project was originally developed as two Class A industrial buildings, but was later combined to create a 1.25 million-square-foot facility supporting a full-building, long-term lease by Walmart.
Phase 2 brings LPC Desert West to a record high of almost 7 million square feet under development or construction in its region of Arizona, Nevada, Utah and New Mexico.
“This is a very exciting time to develop industrial space in metro Phoenix, with demand hig ....
Other Transport News
Recovery in logistics sector continued in May, latest Ctrack index shows
The latest Ctrack Transport and Freight Index (Ctrack TFI) reveals that the recent healing in South Africa’s logistics sector continued in May, albeit at a slower pace. The index enhanced in May to reach a level of 125.6– a boost of 1.7% compared to April’s level, and 2.5% above year-ago levels.
‘Unconscionable’ to return money to Treasury instead of fixing potholes – Creecy
Transport Minister Barbara Creecy says “instant attention” will be provided to the “important problem” of the underspending of financing assigned to road maintenance and roadway building by both Department of Transport (DoT) entities and provincial transport departments. “In a country where residents should daily navigate the dangers of potholes it is unconscionable that we are returning money to National Treasury.”
AA, Outa weigh in on new Transport Minister
Newly designated Transport Minister Barbara Creecy is the l lth minister in this portfolio because 1994, which is a cause for concern as continuity within federal government departments is crucial, states the Automobile Association (AA) of South Africa. The AA says the need for an improved transportation design in South Africa must be high up on Creecy’s program, as must efforts to enhance road safety.
Recovery in logistics sector continued in May – Ctrack index
The latest Ctrack Transport and Freight Index (Ctrack TFI) shows that the recent healing in South Africa’s logistics sector continued in May, albeit at a slower rate. The index improved in May to reach a level of 125.6– a boost of 1.7% compared with April’s level, and 2.5% above year-ago levels.
Steady hand needed as seventh Transport Minister appointed in 15 years – AA, Outa
Newly designated Transport Minister Barbara Creecy is the l lth minister in this portfolio since 1994, which is a cause for issue as continuity within federal government departments is important, states the Automobile Association (AA) of South Africa. The AA says the requirement for an enhanced transport model in South Africa need to be high up on Creecy’s program, as ought to efforts to improve road safety.
Eastern Cape road projects planned
The South African National Roads Agency Limited (Sanral) announced in March that it expected to inject close to R2-billion into the Dr AB Xuma local municipality, in the Eastern Cape, when it implements its road maintenance projects over the next three years. The roads agency said it will implement two road infrastructure development projects in the municipality, which include the road improvements of the R61 National Road between All Saints and Bayiza, as well as road improvements of the R61 National Road between Qumanco and eNgcobo.
Logistics Crisis Committee’s work to continue, freight sector poised to transform in next two …
Business Unity South Africa (Busa) president Mxolisi Mgojo states he is confident that work within the National Logistics Crisis Committee (NLCC) will continue as political parties grapple to form a union federal government post the national elections held at the end of May. “We partner with the federal government of the day,” says Mgojo.
Innovation, investment key to advance infrastructure growth
While difficulties such as moneying abilities and constraints scarcities persist, the roads and bridges sector is poised for development through strategic financial investments and technological developments. By leveraging and addressing obstacles development, South Africa can accomplish substantial improvements in its facilities, to the advantage of the economy and society, states civil engineering market organisation South African Institution of Civil Engineering 2025 president-elect Friedrich Slabbert.
‘Highly technical’ phases start at Msikaba
The Msikaba Bridge project, in South Africa’s Eastern Cape, is progressing substantially, says building company Concor project director Laurence Savage, who notes the structure is now getting in technically challenging stages. The Msikaba Bridge forms part of the South African National Roads Agency Limited’s (Sanral’s) N2 Wild Coast project and is being constructed by a partnership in between Concor and building company Mecsa, particularly the CME joint endeavor. Both business are entirely black-owned, Construction Industry Development Board Grade 9CE-rated South African building companies.
Recovery in logistics sector continued in April despite ports being lashed by storms – Ctrack …
After declining in the very first 2 months of the year, the Ctrack Transport and Freight Index (Ctrack TFI) continued its momentum in April to reach a level of 123.4– a boost of 2.8% compared to March. This is likewise 1.5% above the levels seen a year earlier.