New York, NY – July 25, 2025 – Clarion Partners, LLC, (“Clarion") a leading real estate investment manager, has formed a joint venture with GO Industrial to develop a new Class A rear-load industrial building at 3050 S. 35th Street, in an area designated as a Qualified Opportunity Zone. Located in the Phoenix Sky Harbor International Airport industrial submarket, the project broke ground in April 2025 and is expected to be delivered in March 2026.
Clarion maintains a substantial presence in the Phoenix area with 15 existing industrial properties comprising 3.5 million square feet. In the Airport industrial submarket specifically, the Firm owns more than 1.4 million square feet across the five-building Airport I-10 Business Park and the three-building Phoenix I-10 Business Park.
“Clarion maintains confidence in Phoenix as a vibrant logistics hub," said Managing Director Jason Glasser. “We are excited to partner with GO to develop this project in a Qualified Opportunity Zone which will serve one of the fastest growing populations in the U.S."
The development sits in a supply constrained location less than one mile from the Sky Harbor International Airport, and four miles from downtown Phoenix. The property will feature a full concrete truck court with 45+ trailer parking stalls, 180' truck court depth, 32' clear height, full HVAC, LED lighting, and an ESFR sprinkler system, positioning it competitively against the many aging warehouses in the submarket. The investment will support new jobs through both the construction of the property and continued operation.
Clarion is currently invested in over 170 properties (nearly $8 billion in GRE) in areas designated as QOZs and owns an additional 734 properties (over $38 billion in GRE) in submarkets neighboring U.S. QOZs.1