30.08.2021, 22:33
Disposal of Southwest Valley Industrial Facility
Minneapolis-based Opus Group has sold a 450,000 SF cross-docking logistics development in Goodyear, Arizona for US $56 million in a transaction brokered by Cushman & Wakefield.
Developed on a 29-acre site at 2250 South Litchfield Road in 2021, the Class A facility is located adjacent to Phoenix Goodyear Airport and within easy reach of Interstate 10, Loop 303, and Highway 85. Within the vicinity of multiple retail amenities, the site’s corporate neighbors include several Fortune 500 companies – with the property also located in an Opportunity Zone, Military Reuse Zone and Foreign Trade Zone capable.
Cushman & Wakefield Executive Managing Director, Will Strong, Associate Greer Oliver, Senior Director Kirk Kuller, and Analyst Connor Nebeker-Hay from the company’s National Industrial Advisory Group represented the seller in the transaction. Cooper Fratt and John Werstler of CBRE provided leasing advisory services.
Commenting on the transaction, Strong, said: “Institutionally developed and maintained, this was a rare investment opportunity of a bulk state of the art Class A industrial/cross dock facility that is very well positioned with immediate airport access and central to multiple freeways and adjacent to the Union Pacific Railroad.
“The property offers great potential value for the buyer through the lease up of the vacancy in the facility, to multiple or single tenancy, in a high-demand market.”
The development features rail service capabilities, 36ft ceiling clearance, heavy power, abundant car and trailer parking, 73 dock doors and 4 grade doors, and skylights, and consists of truck queuing lanes, 100 per cent concrete truck courts, fully secured truck courts with automatic truck court gates, and 190-foot truck court depths.
Opus Group is a family of commercial real estate development, construction and design companies headquartered with offices and projects across the United States.
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