Lincoln Property Co. and Harvard Investments have acquired 585 acres in Goodyear, Ariz. The site is one of the last remaining large industrial-zoned land parcels in the area.
The partnership plans to develop a Class A industrial park, capable of delivering as much as 7 million square feet of space across 20 buildings. The project is expected to also include a retail component, offering some 10,000 square feet of in-line and retail pad opportunities.
The developers expect to break ground on Phase I of Goodyear AirPark in the first quarter of 2022. This component will feature more than 1.6 million square feet of space across six buildings ranging from 81,000 square feet to 775,000 square feet. The buildings within the park will offer up to 40-foot clear height, several points of ingress and egress, private truck courts and generous parking.
Cerberus Capital Management serves as the equity partner on the project, while the architect is Butler Design Group. The general contractor has yet to be selected. Lincoln Property Co. will direct all leasing and property management through its LPC Desert West subsidiary.
The site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85 within Phoenix’s West Valley submarket. Additionally, the property is also south of Phoenix-Goodyear Airport and nearly 3 miles south of Interstate 10. It sits at the entrance to Estrella Mountain Ranch, a 20,000-acre, award-winning master-planned community.
Moreover, the site is within minutes from the Goodyear Ballpark, the spring training home for the Cincinnati Reds and Cleveland Indians, in a submarket that is becoming popular for its rapidly growing retail, commercial, single-family and apartment homes fueling the steady expansion of data center, manufacturing, logistics and aerospace industries.
Goodyear AirPark will also be less than a mile from a recently constructed Microsoft data center, while other corporate neighbors include Amazon, UPS, Walmart, SubZero, Boeing, XPO Logistics, Aldi and Red Bull.