Phoenix-based Tratt Properties LLC has broken ground on a 1.3-million-square-foot, Class A industrial development, with completion expected in December. Called Elwood Logistics Center, it is the largest speculative industrial building ever to break ground in the Valley.
Elwood Logistics Center is accessed from the I-10/Cotton Lane interchange and sits within both a pending Foreign Trade Zone, which would provide duty advantages and up to 72 percent reduction in real and personal property tax, and an Opportunity Zone, offering tax advantages for operators who invest in areas targeted for economic or employment stimulation.
“The combination of Foreign Trade Zone capability and Opportunity Zone status make Elwood Logistics Center an extremely advantageous site option,” says JLL Managing Director Anthony Lydon, who serves as the project’s exclusive leasing broker along with JLL Managing Director Marc Hertzberg and Vice President Riley Gilbert. “Add to that Goodyear’s position as the sixth-fastest-growing city in the U.S. and the nation’s second-highest-ranked workforce market with almost 1.5 million people within a 30-minute drive, and you have a very precise mix of geography and labor that is critical for a huge range of national and global operations. That mix is a reflection of the expertise that Tratt Properties brings to this process.”
At build-out, Elwood Logistics Center will total 1,310,258 square feet, with amenities purposefully designed to meet the needs of major logistics, manufacturing, food and beverage, and e-commerce users. This includes a 40’ clear height, cross-dock building with a 190-foot gated and secure concrete truck court and 235 dock-high loading positions. The site provides parking for more than 1,400 cars and 327 trailers.
The project general contractor is The Renaissance Companies. The project architect is Deutsch Architecture Group.
At the groundbreaking ceremony, Goodyear Mayor Georgia Lord lauded the project for creating new jobs in the city.
Tratt Properties Principal Jonathan Tratt characterizes Goodyear as “one of the fastest-growing industrial and e-commerce submarkets in the nation.”