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November 29, 2023
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BentallGreenOak Spends Over $109 Mil for AZ Distribution Facility


BentallGreenOak purchased a fully leased 730.8k sf Class A big-box distribution building on over 46 acres in Goodyear, AZ for $109.2 mil ($149/sf). Newly constructed in the first quarter of 2022, the property referred to as Lakin Park Building 1A is 100% leased to a single tenant.

Located at 17315 West MC 85, Lakin Park Building 1A offers state-of-the-art features including 40’ clear height, fully HVAC warehouse, 70’ speed bays, 200’ concrete truck courts, R-38 roof insulation, ESFR sprinklers, multiple points of ingress and egress, excellent loading with 120 dock-high doors, 171 trailer parking stalls, and a robust 6,000 amps (expandable to 12,000 amps) of power.

Will Strong, Greer Oliver and Connor Nebeker-Hay of Cushman & Wakefield represented the seller, a joint venture of Clarius Partners LLC and Walton Street Capital. Mike Haenel and Andy Markham, also with C&W, provided leasing advisory.

“Lakin Park Building 1A is a best-in-class core asset with long-term tenancy in a high performing industrial submarket,” said Strong. “The facility was developed by Clarius Partners LLC and features best-in-class specifications, functionality, and quality along with a superior main and main location. Backed by strong tenant demand, this type of industrial asset class remains highly sought after by investors.”

Clarius expects to break ground on the second building (530.3k sf) in Lakin Park later this year and the third building (1.18 msf) during the first quarter of 2023.

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