The JLL Capital Market team negotiated the sale of Goodyear Crossing II, an 820,384-square-foot, Class A fulfillment center in Goodyear, which was purchased by real estate investment firm Hines for $56.2 million.
The property was fully leased at the time of the sale. As investment grade tenants continue to see the value of locating in Phoenix, investors are seeking out the market’s high-quality industrial assets, according to JLL.
Managing Directors Bo Mills and Mark Detmer led the JLL team on the sale.
Goodyear Crossing II features a 30-foot clear height, 268 spaces for trailer parking, 178 dock-high doors and is fully air conditioned. The building also features 15,000 square feet of office space and is easily demisable to accommodate multiple tenants. Goodyear Crossing II’s proximity to the I-10 Freeway and Loop 101 offer access to major markets in the Southwest, California and Phoenix metropolitan area, respectively.
“The Phoenix industrial market is in the early stages of recovery, making assets in this market a very sound investment,” said Mills. “Goodyear Crossing II is a high-quality asset with investment grade tenancy and is a tremendous addition to Hines’s portfolio.”
