DAUM Commercial Real Estate Services recently directed the acquisition of two brand new freestanding industrial buildings totaling nearly 36,500 square feet in the greater Phoenix submarket of Goodyear, Arizona.
The assets are part of the Palm Valley Crossing development, which was delivered earlier this year by Hopewell Development, according to Trevor McKendry and Chris Rogers, both Executive Vice Presidents based out of DAUM’s Phoenix office. McKendry and Rogers represented the buyer, a private investor, in this transaction.
“Even in the midst of the pandemic, investor demand and competition for quality industrial product in the Phoenix area remain high,” says McKendry. “Based on our close relationships and knowledge of what is happening in the local market, we’ve been able to secure prime assets, like these state-of-the-art buildings, for our clients.”
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.
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.
The buildings are located at 137th Avenue and Autodrive in Goodyear, Arizona and were purchased for a total consideration of $4.96 million.
Chris Rogers and Trevor McKendry also recently completed two transactions in Phoenix for a total of $4.7 million: the sale-leaseback of the building located at 23306 N. 15th Avenue in Phoenix, Arizona and the lease of 1650 W. Parkside Lane in Phoenix, Arizona.