Phoenix-based alternative investment and real estate development firm Creation, in partnership with CrossHarbor Capital Partners, recently closed on 170.25 acres at the southeast corner of Yuma Road and Bullard Avenue, adjacent to the Phoenix-Goodyear Airport in Goodyear, Ariz.
Plans call for a five-building, multi-phased 2.7 million square-foot logistics development called Airpark Logistics Center. The site is located on the northwest side of the 8,500-foot length runway — the third largest in Arizona — in a federally approved Foreign Trade Zone in Maricopa County, one of the fastest-growing counties in the United States. Goodyear is centrally located within Phoenix’s West Valley, which has evolved into a primary manufacturing and logistics hub serving both the Phoenix Metro area and the entire Southwestern U.S. over the past decade.
The strong demand for logistics and warehouse space has been accelerated by the surge in e-commerce direct-to-consumer retail sales in response to the COVID-19 pandemic, as well as a resurgence of inventories back to the U.S. as companies reduce their supply chain dependence on China.
Construction of the first phase of Airpark Logistics Center, which will consist of three buildings totaling approximately 1.4 million square feet, will commence in September 2021. Phase two will total approximately 1.3 million square feet and construction is anticipated in early 2023. While phase two is presently being offered on a traditional build-to-suit basis, Creation has engaged in preliminary discussions about the potential to facilitate future aviation logistics by way of “through the gate” access to Phoenix-Goodyear Airport.
Creation and CrossHarbor have hired Phoenix-based LGE Design Build for full design-build construction and architectural services.
Throughout the country, there are a limited number of industrial logistics developments adjacent to runways where air cargo fleets have direct access into hangars located on fee simple land.
Photo courtesy of CrossHarbor Capital Partners