JV to Build 585-Acre Goodyear AirPark Project

Credit: LPC Desert West

By LPC Desert West

In a joint venture partnership, LPC Desert West, the Southwest regional office of Lincoln Property Company, and Harvard Investments have purchased 585 acres in metro Phoenix’s West Valley submarket for a major new, Class A industrial development called Goodyear AirPark.

Situated next to the Phoenix-Goodyear Airport, it is one of the last large industrial-zoned land parcel remaining in the immensely popular Goodyear industrial market. It also sits immediately adjacent to a Dark Fiber line, making it highly attractive for data center development – a market sector in which Phoenix ranks as a U.S. leader.

LPC and Harvard will break ground on Goodyear AirPark Phase I in Q1 2022, to include more than 1.6MSF of space in six buildings ranging from 81KSF to 775KSF. At completion, the park will have the capacity to deliver up to 7MSF of industrial space in as many as 20 buildings. It will also offer a retail component, providing approximately 10KSF of in-line and retail pad opportunities.

Cerberus Capital Management is the equity partner for LPC and Harvard on the project. Greg Vogel of Land Advisors represented the land seller, Sun MP.

The Goodyear AirPark site is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85, a high-volume east/west trucking route connecting Goodyear with Mexico. It is also directly south of Phoenix-Goodyear Airport and approximately three miles south of Interstate 10.

Buildings within Goodyear AirPark will offer up to 40’ clear height, multiple points of ingress and egress, private truck courts and generous parking. The Goodyear AirPark site has a full utilities infrastructure and is zoned for industrial and commercial use.

The architect for Goodyear AirPark is Butler Design Group. The general contractor is yet to be selected. LPC Desert West will direct all leasing and property management. (Source)

 

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