Goodyear Gateway South, EJM Development
Michael Lewis Co. buys parcel in Goodyear Gateway South
Goodyear Gateway South, the 221-acre industrial zoned park being developed by EJM Development Co. just north of the Phoenix Goodyear Airport, has announced its first user. Michael Lewis Co. (MLCo) has purchased a 30-acre parcel for development. The financial terms of the transaction were not disclosed.
Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s Phoenix office represented EJM Development in the transaction. MLCo was represented by Andy Cloud with Cassidy Turley.
MLCo is a global provider of in-flight and catering products, logistics and supply chain management solutions. MLCo plans to build a 250,000-square-foot warehouse and distribution facility on the newly-purchased, 30-acre parcel at Goodyear Gateway South, taking advantage of the park’s foreign trade zone (FTZ) designation. This facility marks an expansion for the company in metropolitan Phoenix. The new facility will increase the company’s current operation and will feature a combination of refrigerated space, dry storage and office space
“This purchase and planned facility is a great example of the draw of an FTZ designation,” said Fred Stiles, Regional Director with EJM Development Co. “FTZ status allows metropolitan Phoenix to compete for companies doing business internationally. What’s more, in Arizona there is an additional tax benefit for properties in FTZs that allows for significant reductions in both real and personal property tax.”
“We are thrilled to have Michael Lewis Co. locate in Goodyear” said Mayor Georgia Lord. “This addition to our business community will bring with it more than 100 jobs and helps us launch one of our premier employment corridors – the Goodyear Gateway South development. We appreciate EJM Development’s investment in infrastructure on this property. As a result of our strong partnership with them, we are confident we will continue to see industry investment in this area and additional jobs for our City.”
This land purchase comes just months after EJM Development broke ground on significant infrastructure at Goodyear Gateway South. In May of this year the developer began work on $5 million worth of construction on streets and utilities, which is nearing completion and should be finished by year’s end. The street improvements include full width 143rd Avenue from Van Buren Street to Yuma Road and improvements to Yuma Road, as well as a traffic signal at 143rd and Van Buren.
“EJM strategically laid the framework for the Goodyear Gateway South,” said CBRE’s Feeney. “The West Valley has emerged as the next epicenter of major commercial development in metropolitan Phoenix and major employers are looking to locate and expand in the Valley. It’s important that we are able to offer high-quality, industrial-zoned, shovel-ready sites. The development of infrastructure, streets and utilities at Goodyear Gateway South is a major step toward being ready for incoming users.”
The 221-acre, foreign trade zone-approved Goodyear Gateway South is ideally situated for users that transport goods intra- and inter-state. Additionally, the park provides companies access to the talented, deep and productive workforce living in the immediate area, while freeways put it within an hour of all 3.8 million workers in Greater Phoenix. Goodyear Gateway South is part of the larger Airport Gateway at Goodyear master-planned community. At build-out, Airport Gateway will feature approximately 3 million square feet of planned industrial/work space at Goodyear Gateway South and at Goodyear Gateway North, home of the Cancer Treatment Centers of America’s state of the art medical treatment facility, an additional 2.5 million square feet of upscale regional retail, hotel, office and medical office uses.