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7/21/20
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Two brand new, freestanding industrial buildings totaling nearly 36.5k sf in Goodyear, AZ were acquired by a private investor for $4.96 mil ($136/sf). The assets are part of the Palm Valley Crossing development, which was delivered earlier this year by Hopewell Development.
The two properties include both warehouse and office space, and feature truckwells and grade level doors, PAD Zoning, fenced yards and 20’-8” clear height. They are located at 137th Ave and Autodrive in Goodyear, roughly 20 miles west of Phoenix.
Trevor McKendry and Chris Rogers with DAUM Commercial Real Estate Services represented the buyer in the transaction. According to Rogers, the buildings are currently available for lease and are well positioned to attract tenants looking to expand into the greater Phoenix area.
“Less than 20 miles from the heart of Phoenix, Goodyear is an up-and-coming area where several Fortune 500 companies, including Amazon, Dick’s Sporting Goods, Microsoft, Nike, and UPS, have a presence,” says Rogers. “Even in these ever-changing times, investment in this growing submarket remains attractive. Tenants continue to seek out high quality industrial space offering convenient access to Interstate 10 and other major thoroughfares in the region, at a slightly lower price point than Phoenix proper.”
One of the fastest growing cities in the nation, Goodyear was recently ranked among the “Best Places to Live in America” by Money magazine, and has a 95% satisfaction rate among its citizens, notes McKendry.
Goodyear also offers incentives for premiere business looking to locate in the city and includes tax benefits from Foreign Trade Zones, Military Reuse Zones, Opportunity Zones and designated redevelopment areas.
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