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8/23/16
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In a notable AZ industrial acquisition, Hines has purchased Goodyear Crossing II, an 820.4k sf Class A fulfillment center in Goodyear. The asset was sold by Gramercy Property Trust for $56.2 mil ($69/sf).
Goodyear Crossing II features 30-foot clear height, 268 spaces for trailer parking, 178 dock-high doors and is fully air conditioned. The building also features 15k sf of office space and is easily demisable to accommodate multiple tenants. Goodyear Crossing II’s proximity to the I-10 Fwy and Loop 101 offer access to major markets in the Southwest, California and Phoenix metropolitan area.
Bo Mills and Mark Detmer with JLL represented the seller in the transaction.
“The Phoenix industrial market is in the early stages of recovery, making assets in this market a very sound investment,” said Mills. “Goodyear Crossing II is a high-quality asset with investment grade tenancy and is a tremendous addition to Hines’s portfolio.”
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