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