JLL Arranges $122M Bridge Loan for The Base Industrial Campus in Glendale, Arizona
JLL Capital Markets has arranged $122 million in bridge financing for The Base, a newly constructed, seven-building industrial campus totaling 1,182,865 square feet in Glendale, Arizona, the firm announced June 22, 2026. Pacific Life provided the loan to the campus owners, Partners Group Real Estate and ViaWest Group, who hold the asset through a joint venture in which Partners Group carries a majority stake.
The campus is situated at the northwest corner of N. Litchfield Rd. and W. Bethany Home Rd. in Glendale's West Valley. Shell work and make-ready tenant improvements were finished in early 2026.
Campus Specifications and Location
The Base spans seven buildings and is designed to accommodate single- or multi-tenant configurations across varying suite sizes. The campus features clear heights ranging from 32 to 36 feet, heavy-power capabilities of 3,000 to 6,000 amps, ESFR sprinkler systems and R-38 roof insulation. Truck and auto infrastructure includes 222 dock-high doors, 39 grade-level doors, 105 trailer parking spaces and 1,363 automobile parking spaces.
The property's location provides connectivity to the Greater Phoenix Metro via Loop 303, Loop 101 and Interstate 10. According to JLL, the campus sits within driving distance of major West Coast markets including Los Angeles, San Diego and Las Vegas, with a combined population exceeding 30 million reachable within a single day's drive. The campus is within five miles of Glendale Municipal Airport, 7.5 miles from Phoenix-Goodyear Airport and 26 miles from Phoenix Sky Harbor International Airport.
The Base also sits in proximity to Luke Air Force Base, which JLL states generates $2.8 billion in annual economic impact and employs more than 7,000 military and civilian personnel. JLL noted that this positioning creates potential demand from defense contractors, aerospace suppliers and specialized service providers. The campus is surrounded by retail amenities and a labor pool that includes 288,000 households within a 10-mile radius.
Bridge Structure Supports Lease-Up Strategy
Kevin MacKenzie, Capital Markets President at JLL, commented on the transaction. "The debt markets continue to present an unmet supply of capital for well-sponsored opportunities — particularly in favorable markets like Phoenix," MacKenzie said. "Lenders are actively deploying into lease-up scenarios backed by experienced sponsors, and we're seeing access to capital that extends runway to execute the business plan, reduces cost of capital and funds the leasing costs needed to stabilize. The Base is precisely the type of opportunity that attracts that conviction."
The JLL team on the transaction was led by MacKenzie alongside Senior Director Jason Carlos and Senior Analysts Lilley Kroll and Ross Jorgensen.
Sponsors Cite Phoenix Industrial Fundamentals
Partners Group, which manages over $185 billion in assets under management globally and employs around 2,000 professionals, described the financing as consistent with its broader thesis on the Phoenix market. Henrik Orrbeck, Global Co-Head of Real Estate at Partners Group, commented on the firm's outlook.
"We have thematic conviction in the Phoenix industrial market, which benefits from strong population growth and a key position as a logistics hub," Orrbeck said. "Our strategy for The Base North is to capitalize on these trends by providing best-in-class assets with modern specifications that can meet the needs of logistics, e-commerce, and advanced manufacturing tenants. We are pleased with the result of this financing, which builds on recent leasing momentum."
ViaWest Group, a Phoenix-based commercial real estate investment, development and property management firm established in 2003, has reported more than $3.6 billion in aggregate transactions since inception and over 13.3 million square feet owned, managed and under development across its Phoenix and Denver offices.
Lender Background
Pacific Life Insurance Company served as lender on the transaction. Pacific Life, a Fortune 500 company headquartered in Newport Beach, California, provides products and services across retail, institutional, workforce benefits and reinsurance markets and has been in operation for nearly 160 years.
JLL's Capital Markets group operates globally with more than 3,000 specialists in offices across nearly 50 countries, providing debt advisory, investment sales, equity and fund placement, and related services to real estate investors and occupiers.
Sources: JLL Newsroom, June 22, 2026