In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Scottsdale-based Harvard Investments have purchased 585 acres in Metro Phoenix’s West Valley submarket for a major new Class A industrial development called Goodyear AirPark.
Situated next to the Phoenix-Goodyear Airport, it is one of the last large industrial-zoned land parcels remaining in the immensely popular Goodyear, Arizona, industrial market. It also sits immediately adjacent to a Dark Fiber line, making it highly attractive for data center development — a market sector in which Phoenix ranks as a U.S. leader.
LPC and Harvard will break ground on Goodyear AirPark Phase I in Q1 2022, to include more than 1.6 million square feet of space in six buildings ranging from 81,000 square feet to 775,000 square feet. At completion, the park will have the capacity to deliver up to 7 million square feet of industrial space in as many as 20 buildings. It will also offer a retail component, providing approximately 10,000 square feet of in-line and retail pad opportunities. Buildings within Goodyear AirPark will offer up to 40-foot clear height, multiple points of ingress and egress, private truck courts and generous parking. The Goodyear AirPark site has a full utilities infrastructure and is zoned for industrial and commercial use.
“Goodyear AirPark represents one of the all-time most well-located and amenitized, shovel-ready industrial sites in LPC’s Desert West portfolio, happening at a time when demand for modern industrial product has never been higher,” says Lincoln Property Company Senior Executive Vice President David Krumwiede. The site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85, a high-volume east/west trucking route connecting Goodyear with Mexico. It is also directly south of Phoenix-Goodyear Airport and approximately three miles south of Interstate 10.
Cerberus Capital Management is the equity partner for LPC and Harvard on the project. Greg Vogel of Land Advisors represented the land seller, Sun MP. The architect is Butler Design Group. The general contractor is yet to be selected. LPC Desert West will direct all leasing and property management.
Photo courtesy of LPC Desert West
