PHOENIX — First Industrial Realty Trust and Merit Partners have joined forces to purchase 21.1 acres of land in Tolleson for a 386,100-square-foot distribution building. The project will be located at the northeast corner of 94th Avenue and Buckeye, just west of Phoenix.
The cross-dock distribution building is slated for completion this December. It will be fully owned by First Industrial, which expects to invest about $21.1 million into the Class A facility.
Mattress Firm is the first tenant to sign on at the project. Its new 170,000-square-foot lease will allow the mattress store chain to expand from its neighboring location.
The building will be constructed by Sun State Builders. The land sale transaction was executed by Payson and Don MacWilliam and Jimmy Leaf of Colliers International.