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Phoenix lands 2 new massive warehouses

Phoenix has landed two new warehouses totaling nearly 2 million-square-feet.

The Arizona Republic reports that Fortune 500 retailer Marshalls is building a 1.2 million-square-foot distribution warehouse on 100 acres in southwest Phoenix. The discount retailer plans to hire 300 people for its new Phoenix facility.

In addition, San Francisco-based developer Prologis Inc. is building a nearly 500,000-square-foot warehouse in the same area.

Prologis is applying to receive foreign-trade-zone designation for the business park and has a development agreement for the status with the city of Phoenix.

Companies qualifying for the designation receive benefits including reduced customs-reporting requirements and a 75 percent reduction on property taxes.

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