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HelloFresh Leases New 300k sf AZ Facility for Its Factor Subsidiary

1/12/22

HelloFresh’s subsidiary Factor has agreed to a lease for a 300.1k sf building at Yuma|143, a still-under-construction, Class A, two-building, 490k sf industrial project in Goodyear, AZ. Yuma|143 is being co-developed by Chicago-based Baker Development Corporation (BDC) and New York’s Foundation Capital Partners (FCP), along with capital partner GTIS Partners.

The lease marks the second recent metro Phoenix industrial commitment by HelloFresh, the world’s largest meal-kit company, which operates in 16 markets across the globe. Factor, a leading fully prepared meal delivery service, will use the building as a regional packaging and production center, and expects to begin operation in Q4 2022. This new facility will fuel the next phase of Factor’s growth to serve new and existing customers in the West and Midwest regions.

The new Factor building will sit at 14170 W. Yuma Rd, between Litchfield and Bullard roads. It is being developed in tandem with an adjacent, fully speculative, 190k sf Class A industrial building. Both buildings are slated for completion by BDC in early Q1 2022. They sit immediately north of Phoenix Goodyear Airport and within two miles of Interstate 10, placing them within a 30-minute drive of 1.7 million residents and approximately five to six hours from the ports of Southern California.

Yuma|143 is located within the Goodyear Gateway South master-planned industrial park, surrounded by corporate neighbors such as FedEx, Quetico, Chewy and UPS. It offers Foreign Trade Zone / Magnet status, allowing up to a 72 percent reduction in real and personal property tax.

“Goodyear has proven itself as a logistics frontrunner and is quickly becoming a light manufacturing hub, ranking as the ninth fastest growing city in the U.S. and the number two-ranked U.S. workforce market,” said Baker Development Corporation’s Principal Daniel Slack. “The city’s geographic, regulatory and demographic advantages are what encouraged us to build two best-in-class projects here, totaling approximately 1 msf. These attributes, when coupled with market forces such as re-shoring and supply chain disruptions, will continue to attract leading tenants like Factor.”

Factor is slated for move-in at Yuma|143 during Spring 2022. The new production center is expected to generate approximately 800 or more new local jobs once fully operational.

HelloFresh was represented in its lease negotiations by JLL’s Marc Hertzberg, Anthony Lydon, Adam Citron and Kelly Royle. JLL’s Hertzberg, Lydon and Riley Gilbert repped the building owner, a joint venture controlled by BDC and FCP.

Yuma|143 is BDC’s fourth major Phoenix-area industrial development. It is preceded by VB|143, a $46 mil, 325k sf Class A industrial project also located in Goodyear and also co-developed with FCP. In May, BDC purchased 28 acres just northeast of Sky Harbor Airport in Phoenix for Park 52, a $100 mil+ industrial park featuring 350k sf targeting the last-mile/e-commerce user. In June, it purchased 81 acres in Surprise, Arizona for Cactus 303, a $150 mil industrial park slated for 1 msf and six Class A buildings fronting the Loop 303, and complimented by approximately 16 acres of retail along the Cactus Road frontage.




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