Prologis, a leading player in the industrial real estate sector, has recently acquired the newly-built Airpark Logistics Center in Goodyear for $184 million. The seller, Creation, reports that this is the biggest acquisition of a multi-building industrial business park in Arizona’s history.
The strategically located site spans 170 acres and is situated right next to Phoenix Goodyear Airport. The first phase of development was completed last month and includes three buildings with over 1.4 million square feet available for lease. Additionally, there are plans for a second phase which will feature an additional 84 acres of build-to-suit land and bring the total leasable space to over 2.7 million square feet.
Earlier this year, Prologis also began construction on their Prologis 303 Business Park nearby at Cotton Lane and Camelback Road – covering an area of approximately112 acres – further solidifying their presence in Goodyear’s thriving industrial market alongside developments like Prologis Commerce Park.
Creation continues to be active throughout Phoenix Metro with several new projects underway totaling more than6 .5million square feet valued at over $1 .5 billion.Cushman & Wakefield acted as representatives for both Creationand CrossHarbor Capital Partnersin this transaction.
Leading player in the industrial real estate sector Prologis has made headlines by acquiring Airpark Logistics Center located within close proximity to Phoenix Goodyear Airportfor$184million from seller Creation.This deal marks Arizona’s largest-ever saleof amulti-buildingindustrial business park accordingto reports fromthe latter.The sprawling170-acre site boastsa prime locationandwascompletedlast monthwiththreebuildingscomprisingofover1 .4 millionsquarefeetavailableforlease.Asecondphasehas been announcedwhichwillincludeanadditional84acresofbuild-to-suitlandbringingthetotalleasablespaceupwards2 .7millionsquarefeet.
Prologis has been actively expanding their presence in Goodyear’s thriving industrial market, with the recent groundbreaking of Prologis 303 Business Park – a new development spanning112 acres at Cotton Lane and Camelback Road. The company also has a strong track record in the area, having previously developed Prologis Commerce Park.
Creation continues to be an active player throughout Phoenix Metro with several ongoing projects totaling over6 .5million square feet valued at more than $1 .5 billion.Cushman & Wakefield represented both Creationand CrossHarbor Capital Partnersin this transaction.
