Home > News > featured news > Cresset Real Estate Partners and Clarius Partners Close on Land Purchase for 1.7 Million Square Foot Logistics Development in Glendale, Arizona

Real Estate Investment

Cresset Real Estate Partners and Clarius Partners Close on Land Purchase for 1.7 Million Square Foot Logistics Development in Glendale, Arizona

Cresset Partners | August 12, 2021

Cresset Estate Partnersesset Real and Clarius Partners have closed on the land acquisition for 303 Crossroads, a 1,758,410 square foot logistics development in Glendale, Arizona.

The project will consist of two buildings to be built across two phases on land fronting Loop 303 and Northern Parkway in Glendale. Building one will be 1,023,610 square feet and is scheduled to be completed in 2022. Building two will be 734,800 square feet and is slated for completion in 2023. Groundbreaking is scheduled for October 2021.
The 98-acre 303 Crossroads project consists of two buildings totaling 1,758,410 square feet.

Both buildings will be built to stringent modern design standards and will target e-commerce, distribution, and warehousing users. Features of the buildings will include cross-dock configuration, 40-foot clear height, above-market parking ratios, and direct frontage on both Loop 303 and Northern Parkway.

"Cresset Real Estate Partners is pleased to partner with Clarius Partners on this project for a multitude of reasons. The Phoenix industrial market has continued to see high levels of growth, with more than 6 million square feet of absorption through the second quarter of 2021. The bulk of this activity has occurred in the Southwest Valley. This market's population growth and the relatively low existing inventory of modern big-box industrial buildings has created a significant opportunity for developments of this type," said Dominic DeRose, Director for Cresset Real Estate Partners.

"Clarius Partners is excited to announce the 303 Crossroads Industrial Project in conjunction with Cresset Real Estate Partners," said Mark Balcius, Senior Vice President for Clarius Partners. "This project will enable the partnership to expand its footprint of Class A - Industrial space in the rapidly growing West Phoenix/Loop 303 market. The project team of Butler Design Group, Hunter Engineering, Layton Construction and representation by CBRE, along with the support of the City of Glendale and Epcor, have advanced the project rapidly to enable late 2021 construction commencement."

About Cresset Partners
Cresset Partners is a private investment firm focused on providing its investors with direct access to investment opportunities in private companies, real estate, and sponsor products. We focus on building outstanding, lasting partnerships by investing permanent capital, resources, and expertise to create sustainable value. We believe that long-term investing creates better alignment and reduces risk and inefficiencies, leading to better outcomes for all shareholders.

About Clarius Partners
Clarius Partners, L.L.C. is a full-service real estate investment and development company whose mission is to provide customized service to a select group of clients and partners. Clarius is headquartered in Chicago, IL, with approximately 10 million square feet of industrial, office, and medical projects totaling over $1.3 billion in various stages of development in Illinois, Arizona, California, Pennsylvania, Utah, North Carolina, and South Carolina. Through its deep industry knowledge and extensive network, the Clarius team aspires to deliver exceptional development results with quality, clarity, and integrity.

Cresset refers to Cresset Capital Management and all of its subsidiaries and affiliates. Cresset Asset Management, LLC provides investment advisory, family office, and other services to individuals, families, and institutional clients. Cresset Partners, LLC provides investment advisory services strictly to investment vehicles investing in private equity, real estate and other investment opportunities. Cresset Asset Management, LLC, and Cresset Partners, LLC are SEC registered investment advisors.

Spotlight

More featured news

Spotlight

Related News

Real Estate Investment, Asset Management

Juniper Square and Pereview Team up to Deliver Asset and Portfolio Insights for Private Real Estate Partners

PRnewswire | July 24, 2023

Juniper Square, the leading provider of partnership enablement for the private funds industry, today announced an exclusive partnership with Pereview, the only Life of The Asset® software platform supporting both equity and debt for real estate investments. By connecting Pereview's in-depth asset data to Juniper Square, joint clients can seamlessly share both asset-level and portfolio insights to improve fundraising efficiency and provide LPs with greater transparency. "Juniper Square and Pereview's combined offering provides a best-of-breed solution for fundraising and investor relations teams within leading GP organizations," says Matt Lawson, CMO at Juniper Square. "Until now, these groups have had to compile data from countless different sources just to get a comprehensive and clear picture of their investments. Our partnership with Pereview will change the status quo, allowing GPs to get a comprehensive and clear picture of their CRE assets and deliver it seamlessly to LPs through Juniper Square's partnership enablement platform." As a slower adopter of digital technologies, the commercial real estate industry has finally reached a tipping point. With Juniper Square's roots in investment management and Pereview's expertise in providing detailed reporting across the entire investment lifecycle from acquisition to disposition, these complementary strengths address the ever-growing need for timely, in-depth reporting. All data in the capital stack, from the investor to the fund to the investment to the portfolio to the asset to the property to the lease will be readily available for mutual clients. "Our partnership with Juniper Square provides a best-of-breed, full-stack solution for the marketplace with a custom integration built exclusively for our current and future mutual clients," said Daryl Pitts, senior vice president of global sales for Pereview. "Where Juniper Square is strong in the processes around raising the fund and investor relations, Pereview provides complementary strengths in comprehensive, globally compliant data aggregation and reporting to equip asset, portfolio, and fund management professionals with the 360 view they need to make data-driven decisions." "The combination of Pereview and Juniper Square provides complete coverage for all of our needs," said Dalfen Chief Investment Officer Max Gagliardi. "From the start of fundraising to investor reporting, from portfolio analysis to strategy at the asset level, all the way down to industry exposure and lease clauses—all of our data, across the entire investment lifecycle is supported. We now spend more time doing deeper investment analysis allowing us to drive value creation across our portfolio versus spending time updating many Excel files to answer the same set of questions over and over again. Pereview and Juniper Square have been a game changer for us. We've been able to support the growth of our platform and materially increase portfolio analytics capacity without having to grow the team significantly." In addition to Dalfen, existing mutual customers between Juniper Square and Pereview include PCCP, Ryan Companies, Rockwood Capital, Singerman Real Estate, and many more. About Juniper Square Juniper Square is the leader in partnership enablement for the private funds industry, offering a universal system for GPs and their LPs to seamlessly connect and communicate across every stage of their partnerships. Juniper Square empowers investment managers to accelerate fundraising, scale operations efficiently, and improve investor satisfaction. More than 1,800 GPs rely on Juniper Square to manage more than 32,000 investment entities that span over 500,000 LPs and $700 billion in investor equity. About Pereview Pereview is the leading provider of asset management software and portfolio analytics to the global real estate industry. Agnostic to OP platforms and preferred by LP's, GP's, Institutional Investors, Owners and Managers, Pereview is built by real estate professionals for real estate professionals. By aggregating, integrating and interpreting your internal and external disparate data into the industry's only all-in-one platform, Pereview provides actionable insights into every step of the investment lifecycle. Drive NOI, break down silos and make stronger, more accurate decisions based on your accurate and governed data. With all of your transactions, asset, and portfolio management data in one place across both equity and debt investments, a Pereview client has full visibility into The Life of The Asset®. With both out of the box and customization options, we help clients make more trusted decisions and Do More With Your Data®.

Real Estate Advice

SmartRent Selects ADI Global Distribution as Preferred Distribution Partner

Businessiwire | August 11, 2023

SmartRent, Inc. (“SmartRent” or the “Company”), a leading provider of smart home and property operations solutions for the rental housing industry, has entered into an agreement with ADI Global Distribution, a Resideo Technologies, Inc. company, to serve as its preferred distribution partner. A leading distributor of security, AV and low-voltage products, ADI's expansive network allows for efficient and timely order fulfillment for SmartRent’s 500+ rental housing customers, fortifying the Company’s inventory and distribution activities, and enabling it to streamline inventory management and enhance product availability. “Demand for our solutions remains robust, and it’s imperative that we are able to meet the needs of our customers while continuing to prioritize the innovation and product enhancements that keep us at the forefront of the industry,” said SmartRent CEO Lucas Haldeman. “ADI is one of the most trusted names in the space, and we are proud to partner with them to meet our fulfillment needs and exceed customer expectations. This expanded relationship with ADI strengthens our overall partnership with Resideo.” ADI was selected for its best-in-class operations, extensive product portfolio and local inventory availability. ADI has been supplying SmartRent with more than 100,000 Resideo thermostats per year, and this agreement will expand across the full product offering. In addition to prompt order fulfillment, the multiyear agreement provides SmartRent with needed hardware on demand while reducing its cash investment in inventory. Over time, SmartRent anticipates the decrease in on hand inventory will increase its cash balances. "ADI is committed to serving as the indispensable partner of choice for our customers," said Rob Aarnes, President of ADI Global Distribution. "We're excited to expand upon our relationship with SmartRent to help them navigate their product needs and drive toward long-term business goals, while also resulting in incremental revenue growth for ADI." About SmartRent Founded in 2017, SmartRent, Inc. is a leading provider of smart home and smart property solutions for the rental housing industry. The company’s unmatched platform, comprised of smart hardware and cloud-based SaaS solutions, gives operators seamless visibility and control over real estate assets, empowering them to simplify operations, automate workflows, benefit from additional revenue opportunities and deliver exceptional site team and resident experiences. SmartRent serves 15 of the top 20 multifamily owners and operators, and its solutions enable millions of users to live smarter every day. About ADI ADI Global Distribution, a Resideo company, is a leading distributor of security, AV and low-voltage products serving more than 100,000 customers across North America, Europe, Middle East, and Africa. Leading pros rely on ADI for our wide selection of top brands, immediate product availability, knowledgeable sales staff and our product, design and support. Customers can shop ADI through its Digital Branch, mobile app and in more than 200 stocking locations. ADI solutions include Intrusion & Smart Home, Fire, Video Surveillance, Access Control & Communications, Residential AV, Pro AV, Networking, Data Communications, Power, Central Vacuum, Structured Wiring, Wire & Cable, and Tools & Hardware.

Real Estate Technology

REcolorado and SkySlope Join Forces to Streamline Real Estate Transaction Management

REcolorado | September 28, 2023

Today, in partnership with proptech leader SkySlope, Colorado’s largest real estate multiple listing service, REcolorado, announced they will co-develop an innovative product called Offer Insights. Scheduled to be released first to REcolorado subscribers in early 2024, Offer Insights harnesses the power of machine learning and market data to alert agents of opportunities and potential errors as they are completing real estate forms. This feature streamlines processes and boosts compliance by delivering market-aware suggestions to agents, using real-time data to signal when any information entered on a form falls above or below accepted industry standards. “When co-developing Offer Insights, we wanted to improve compliance, but we also wanted to provide REcolorado subscribers with essential market visibility,” said SkySlope CEO Tyler Smith. “Offer Insights will provide key indicators of what’s happening in the local market. Agents who use it will have access to beneficial information that’s not available anywhere else.” REcolorado is dedicated to engaging with their subscribers to gain a true understanding of their ever-evolving needs, which gives the company the ability to develop technological solutions that address those needs while also advancing the industry. By participating in co-development partnerships like this, REcolorado’s expertise can be leveraged to build meaningful solutions that give brokers and agents the ability to serve their clients as a trusted advisor. “Our subscribers trust us to listen and understand their needs so we can deliver the data, services, and insights that can be used to serve their clients and advance their businesses,” explains REcolorado President and CEO Gene Millman. “With their ability to transform data into powerful solutions that help brokers and agents work efficiently by making transactions move more smoothly, SkySlope is an ideal partner for us.” The REcolorado-SkySlope partnership underscores the ongoing movement among MLSs to evolve their services. By embracing collaboration with technology partners and brokerage leaders, MLSs are identifying agent pain points and actively participating in the development of tech-forward solutions that empower their subscribers to serve their clients efficiently and effectively. “This strategic partnership will develop a service that keeps our subscribers’ needs squarely in focus,” said Millman. “These types of collaborations are essential to creating innovations that will give agents a competitive advantage as the industry shifts.” Additionally, REcolorado will soon be launching two SkySlope signature solutions, SkySlope Offers and SkySlope Forms, to over 26,000 Colorado real estate professionals. Designed to bring time-saving automation to real estate transactions, these solutions significantly reduce administrative tasks for agents. About REcolorado REcolorado is the largest Multiple Listing Service (MLS) in Colorado with over 26,000 professional subscribers who operate throughout the state. Recipient of Inman’s 2023 Innovator Award in the MLS, Association, or Industry category, REcolorado's vision is to empower a trusted, cooperative, and comprehensive real estate marketplace to position customers for success by providing data, technology, and intelligence. The company is REALTOR® owned and serves real estate professionals including the members of Denver Metro Association of REALTORS®, South Metro Denver REALTOR® Association, Mountain Metro Association of REALTORS®, REALTORS® of Central Colorado, and Steamboat Springs Board of REALTORS. About SkySlope Established in 2011, SkySlope is the customer experience platform managing real estate transactions from contract to close. Serving over 650,000 real estate professionals across the U.S. and Canada, SkySlope manages nearly 3 million transactions annually. SkySlope is on a mission to build solutions that reshape the real estate industry by creating the most powerful autonomous transaction platform. For more information, visit SkySlope.