JLL completes $56.2 million sale of Goodyear Crossing II

PHOENIX, AZ– As investment grade tenants continue to see the value of locating in Phoenix, investors are seeking out the market’s high-quality industrial assets. On behalf of Gramercy Property Trust, JLL’s Capital Markets experts announced Monday the firm facilitated the sale of Goodyear Crossing II, an 820,384-square-foot, Class A fulfilment center in Goodyear, Arizona. Hines purchased the fully leased asset for $56.2 million ($68.50 PSF).

Managing Directors Bo Mills and Mark Detmer led the JLL team on the sale.

“The Phoenix industrial market is in the early stages of recovery, making assets in this market a very sound investment,” said Mills. “Goodyear Crossing II is a high-quality asset with investment grade tenancy and is a tremendous addition to Hines’s portfolio.”

Goodyear Crossing II features a 30-foot clear height, 268 spaces for trailer parking, 178 dock-high doors and is fully air conditioned. The building also features 15,000-square-feet of office space and is easily demisable to accommodate multiple tenants. Goodyear Crossing II’s proximity to the I-10 Freeway and Loop 101 offer access to major markets in the Southwest, California and Phoenix metropolitan

PHOENIX, ARIZONA – NAI Horizon Senior Vice President Isy Sonabend represented the buyer in the $2.786 million ($58 PSF) sale of a former truck dealership and repair facility at 2600 W. McDowell Rd., in Phoenix.

NAI Horizon represented 2600 W. McDowell, LLC, in the acquisition of the 48,000-square-foot building that includes industrial workshops and canopies.

The property sits on 11 acres and features 3,876 SF of office space, 21 enclosed truck bays with 3-ton crane capacity, 18 open canopy bays with 5-ton crane capacity, and 17- to 20-foot clear height.

“The location at the crossroads of the I-10 and I-17 interstates, coupled with lot size, attracted the buyer.” Sonabend said. “The buyer is excited to be a part of the revitalization of the area.”

The seller, Rush Truck Centers of America, was represented by Bill Honsaker of JLL.

Phoenix, Arizona – Desert Commercial Advisors has announced that University Of Arizona graduate has joined the SVN retail team in Phoenix as a new Associate Advisor. Brooke will be working with Associate Broker, Shari Tucker in the retail division at SVN where she will be focusing on tenant representation, retail sale and leasing investments, as well as redevelopment properties all over the valley.

Prior to joining Desert Commercial Advisors, Hinkel worked at Arrow Funds Investments in Maryland, where she learned about mutual funds and investment opportunities.  Hinkel received her degree in Business Marketing from the Eller College where she developed an understanding of different theories and analytical approaches to successfully operating a business. She was also part of a marketing team in London, England that planned and organized celebrity events for Celebrities Worldwide.

In addition, Brooke has previously worked in non-profit organizations to help create more efficient programs that supported the grand opening of new community center in Tucson.  Brooke has always had a passion for commercial real estate and with her experience in business, marketing, and investments, Brooke will be a solid team member that will bring outside the box marketing approaches to help bring viable investments for her clients.