Prologis, a leading player in the industrial real estate market, has recently acquired the Airpark Logistics Center in Goodyear for $184 million. This purchase marks the largest acquisition of a multi-building industrial business park in Arizona’s history.
The newly-built center is situated on 170 acres and is conveniently located 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. The second phase will feature an additional 84 acres of build-to-suit land, bringing the total leasable space to over 2.7 million square feet.
Earlier this year, Prologis began construction on another nearby project – Prologis 303 Business Park – which spans across 112 acres at Cotton Lane and Camelback Road intersection. Additionally, they have also developed Prologis Commerce Park in Goodyear.
Creation continues to be active throughout Phoenix Metro area with multiple new developments underway totaling more than $1 billion worth of projects covering approximately six-and-a-half-million-square-feet.
Cushman & Wakefield acted as representative for Creation during this transaction that resulted from their partnership with CrossHarbor Capital Partners.
