A proposed 7 million square foot industrial park named Goodyear Airpark, is to be built through a joint venture partnership between the Phoenix-based Lincoln Property Companies Desert West (LPC) and the Scottsdale-based Harvard Investments and Cerberus Capital Management. The developers have purchased a 585 acres site located in metro Phoenix’s West Valley submarket for building this Class A industrial park.
LPC and Harvard intend to break ground on the first phase of the Goodyear AirPark by the first quarter of 2022. Phase I of this industrial park development will include six buildings built on a 1.6 million square feet of land parcel and these buildings will occupy between 81,000 square feet to 775,000 square feet of space.
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After the final phase is completed, the Goodyear AirPark will feature upto 20 buildings, with up to 40-foot ceiling height and multiple entry and exit points. This Class A industrial park, will have the capacity to deliver upto 7 million square feet of industrial space and will also include private truck courts and generous parking lots. In addition, a retail component be included, to provide about 10,000 square feet of in-line and retail pad opportunities.
David Krumwiede, the LPC Senior Executive Vice President described the Goodyear AirPark as one the most geographically-suitable and highly equipped, shovel-ready industrial sites of all time to be included in LPC’s Desert West portfolio.
David Krumwiede explained the significance of this and pointed out that this was happening at a time that the demand for industrial products was on the rise. Krumwiede also said, “We’re in a good spot in the cycle, both from a national economy perspective and then certainly feel good about the demand really in Phoenix specific for industrial users.”
The president of Harvard Investments, Craig Krumwiede, also spoke highly of the site location and described Goodyear as a live-work magnet, which has the potential to attract a variety of residents and companies from across the region and nation. He pointed out that Goodyear AirPark could take advantage of this opportunity by responding quickly to that increasing demand, with shovel-ready dirt that can be quickly turned into a range of Class A industrial building sizes and features.
