Global logistics leader leased – then purchased – prime distribution asset

PHOENIX, AZ – After leasing a Class A Lincoln Property Company (LPC) distribution facility in the heart of Phoenix’s Southeast Valley industrial market for three years, global supply chain leader XPO Supply Chain Inc. has opted to purchase the building for more than $30 million.

A top-ten global provider of supply chain solutions, XPO (formerly Menlo Worldwide) originally occupied the LPC building 2013, bringing with it wide variety of internet fulfillment-related jobs. Last week, XPO executed its option to purchase the building, which is located at 7037 W. Van Buren St. in Phoenix, for $30,378,000.

“Build-to-suits have been hot in Phoenix for years, but big tenant demand for existing space was average. Now, big tenant activity is on the rise, which is tightening the availability of large blocks of space and making assets like 7037 very attractive for tenants and investors alike,” said Lincoln Property Company’s Executive Vice President David Krumwiede.

The 7037 building totals 552,330 square feet of Class A warehouse/distribution space. Amenities include 31.5 to 35.5-foot clear height, energy efficient lighting, evaporative cooling, skylights and sprinklers. The 31.8-acre lot includes the main building, a fenced truck court with guard shack and parking for 378 cars, 146 trailer stalls and 100 truck bays with cross dock and front load configurations. It is within a Foreign Trade Zone, providing state and local tax incentives and on-site job training programs. Corporate neighbors include Target, Amazon and HSN.

The project is one mile from Interstate 10, served by two full diamond interchanges at 67^th Avenue and 75^th Avenue. It is also 15 minutes from Sky Harbor International Airport.

Connecticut-based XPO specializes in supply chain management, truckload brokerage and transportation, high-value-add warehousing and distribution, global forwarding and last mile logistics. It employs more than 87,000 in 1,440 locations worldwide, serving more than 50,000 customers including Boeing, The Home Depot, IKEA and L’Oreal.

To discuss development, leasing or investment opportunities with Lincoln Property Company in the Desert West Region, please contact David Krumwiede or John Orsak at (602) 912-8888.

The Arizona Daily Star is reporting, two proposed housing developments in Marana got unanimous green lights for zoning changes from the city’s planning commission last week, the first of several steps before building can begin.

Plans for the Camino de Oeste and Twin Peaks Oasis projects include 144 lots and 74 lots respectively, for a total of up to 218 new single-family homes.

The Camino de Oeste development would be on a 72-acre lot north of Cortaro Farms Road and between North Camino de Oeste and North Hartman Lane, and Twin Peaks would be on a roughly 37-acre lot east of Twin Peaks Road and north of West Oasis Road.

The commission’s recommendations still need to be approved by the Marana Town Council.

The 72-acre property’s current zoning sets the minimum lot size at 25 acres, and the commission signed off on changing it to a more dense residential zone that sets a minimum lot size of 6,000 square feet. The Marana General Plan designates the area as low-density residential, which allows for a maximum of two homes per acre.

Sam Mills of Pulte Homes, the project’s home builder, said he hopes to be able to start building by next April.

Meanwhile, home density at the 37-acre site would be similar, but the proposal required a zoning change and modification of the general plan. Linda Morales,of the Planning Center who put together the Twin Peaks plan, said construction could be up to two years out.

All homes in the Camino de Oeste development will be one-story, according to the conditions of the zoning change. Two-story homes are allowed in the Twin Peaks project, but the commission recommended the number be capped.

Neighbors of both projects attended the meeting to lodge their complaints, which centered on view-obstruction, increased traffic and threats to property values.

Steven Vasquez, a Marana planner, said interest in new subdivisions around Marana has been picking up recently. That’s because many subdivisions that were approved in the lead up to the Great Recession whose lots remained empty for years after the crash have been slowly filled in, requiring developers to start new subdivisions from scratch.

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173 large homesites near Lake Pleasant, plus 299 more to come, represent largest homebuilder transaction in Peoria since Great Recession

PEORIA, AZ – Peoria Mayor Cathy Carlat and members of the Peoria City Council joined Maracay Homes to celebrate north Peoria and the start of construction at the homebuilder’s newest residential community, The Meadows.

In addition to the 173 homesites currently under construction, Maracay is also under contract and will be closing in July on an additional 299 homesites at The Meadows. The combination of these two parcels — valued at more than $48 million and purchased 15 months apart — represents the largest homebuilder transaction that has occurred in Peoria in more than a decade.

Located at the gateway to the city’s fast-growing north Peoria (commonly referred to as NoPo) district, on the northwest corner of Deer Valley Road and 91^st Avenue, the all one-story neighborhoods in this first phase of the community will feature 173 oversized homesites with more than a half-acre of land on the largest homesites. Maracay Homes also is under contract and will be closing in July on an additional 299 homesites at The Meadows. The combination of these two parcels – valued at more than $48 million and purchased 15 months apart – represents the largest homebuilder transaction that has occurred in Peoria in more than a decade, since well before the Great Recession.

Homeowners here will find plenty of room for detached or attached accessory garages to accommodate boat or RV storage, more elbow room between homes and large backyards for family fun. Luxurious options, including a, indoor/outdoor fireplace, six-foot-long free-standing bath tub, corner sliding glass doors and more, are available, depending on the plan.

Surrounded by spectacular desert views and set within the center of one of the metro area’s most sought after destinations, The Meadows affords residents an unmatched opportunity to enjoy northwest Peoria’s year-round recreation. Active families and weekend warriors alike flock to the area where Lake Pleasant stretches across 10,000 acres offering an oasis of recreation activities, from wake boarding, water skiing and kayaking, to fishing, sailing, paddle boarding and much more.

Beyond the waterfront, this part of the city boasts multiple desert parks that provide easy access to hiking trails and horseback facilities via multiuse paths that skirt the area’s regional and municipal parks. Whether hiking, biking, picnicking or observing nature, Peoria’s park system is praised for seamlessly blending the surrounding natural beauty with the city’s burgeoning urban lifestyle – which is fast-becoming a national destination for its mix of urban amenities and resort-like lifestyle. Peoria also lays claim to the Challenger Space Center, a rich cultural scene, top-rated golf courses and sports centers, attractive dining and retail hubs, and an emerging market of high-wage companies and major employment corridors.

Designed to enhance the lifestyle of Peoria residents, home styles within The Meadows will feature eight distinct FlexDesign® floor plans – all single story – ranging from approximately 2,500 to more than 4,500 square feet. Each plan includes FlexDesign® selections for optimum customization. All homes are

Energy Star® certified and include Maracay Homes’ LivingSmart® program for high performance and cost efficiency.

For additional information, please contact Maracay Homes New Homes Specialist Pam Meyer at [email protected] or by calling (480) 889-3713.