By Roland Murphy for Arizona Builder’s Exchange
PetSmart subsidiary Chewy.com will build an 800KSF distribution center in Goodyear, according to a recent report in Business Real Estate Weekly of Arizona.
Other sites in the Valley, as well as in Las Vegas, were considered before the company settled on a nearly 49-acre parcel in the Airport Gateway at Goodyear. NP Goodyear AZ Industrial LLC, an entity created by NorthPoint Development, paid $9M for the site, which will be developed as a build-to-suit for Chewy. The company was represented by Cushman & Wakefield.
Sellers EJM-Arizona CommercePlex and AZEJM Land Holdings LLC were represented by CBRE.
According to BREW, the contractor has not been selected yet, but construction is expected to start in Q4 and finish in late 2018.
PetSmart acquired Chewy.com in April in a deal valued at more than $3B. A report last month from Reuters noted the high-yield bonds PetSmart used to finance the takeover loans have dropped to less than 90 percent of face value since May. PetSmart CEO Michael J. Massey resigned from the company and the board in August.
In addition to the Goodyear facility, Chewy has distribution centers either completed or under construction in five other states.
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