news—07.23.2025

Clarion Adds to Industrial Holdings in Phoenix with New Opportunity Zone Development

Press Release

Rendering of an industrial building with a parking lot and arid native landscaping

​​​​​​​​​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​​​​​

Definitions

Footnotes

1 As of March 31, 2025​

Disclosures

Nothing herein constitutes an offer or solicitation of any product or service to any person or in any jurisdiction where such offer or solicitation is not authorized or is prohibited by law.

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Investment in real estate is speculative and involves significant risk. For more information about certain of the material risks and limitations associated with Clarion Partners’ investment advisory products, strategies and services, please see Clarion’s current Form ADV Part 2A brochure, which is available on the SEC’s Investment Adviser Public Disclosure website at https://adviserinfo.sec.gov/firm/summary/108803. Investors should consider their investment objectives, and it is strongly suggested that the reader seek his or her own independent advice in relation to any investment, financial, legal, tax, accounting or regulatory risks and evaluate their own risk tolerance before investing.

This material does not constitute investment advice, nor does it constitute an offer in any product or strategy offered by Clarion Partners LLC or Clarion Partners Europe, and should not be viewed as a current or past recommendation to buy or sell any securities. Any specific investment referenced may or may not be held in a Clarion Partners client account. It should not be assumed that any investment, in any property or other asset, was or will be profitable.

All Clarion Partners LLC and Clarion Partners Europe statistics, data and charts, including but not limited to assets under management (AUM), ESG data, sector data and property data, as well as data related to our investors, tenants and employees, are as of March 31, 2025 unless otherwise noted.

Photos used in this website were selected based on visual appearance, are used for illustrative purposes only, and are not necessarily reflective of all the investments in a Clarion fund or portfolio or the investments a Clarion fund or portfolio will make in the future.

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