Lincoln, Harvard Buy 585-Acre Land Site for 7 MSF Goodyear Airpark Industrial Development in Arizona
GOODYEAR, ARIZ. — A joint venture between Harvard Investments and LPC Desert West, the Southwest regional office of Lincoln Property Co., has acquired a 585-acre land parcel in Goodyear for the development of a Class A industrial park.
Situated next to the Phoenix-Goodyear Airport, Goodyear Airpark will feature up to 7 million square feet of industrial space in as many as 20 buildings at build-out. The partnership will break ground on the first phase in first-quarter 2022. The first phase will include more than 1.6 million square feet of space in six buildings ranging from 81,000 square feet to 775,000 square feet. The development will also offer a retail component, providing approximately 10,000 square feet of in-line and retail pad opportunities.
The buildings will offer up to 40-foot clear heights, multiple points of ingress and egress, private truck courts and ample parking. The Goodyear AirPark site has a full utilities infrastructure and is zoned for industrial and commercial use.
Butler Design Group is serving as architect for the project. LPC Desert West will direct all leasing and property management. The general contractor for the project has not yet been selected.
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, in the transaction. Terms of the land acquisition were not released.