Construction on 901,700-square-foot Lincoln Logistics 40 begins this year

PHOENIX, Arizona – Lincoln Property Company (LPC) in December will break ground on Lincoln Logistics 40, metro Phoenix’s first ever speculative industrial project to offer a 40’ clear height ceiling, with more than 20 acres of space under one roof, designed to serve ultra-modern e-commerce and distribution tenants.

Located along Interstate 10 at Bullard Avenue inC, Lincoln Logistics 40 will total 901,700 square feet on approximately 50 acres within The Airport Gateway at Goodyear business park. In addition to 40’ clear heights, the project will feature 169 dock and grade-level doors, 185 trailer storage stalls, up to 660 parking stalls, fiber optic data and energy efficient clear story windows in lieu of skylights. Completion is slated for mid-2018.

“E-commerce and distribution interests have discovered Phoenix and they are here to stay – and grow,” said Lincoln Property Company Executive Vice President David Krumwiede. “Lincoln Logistics 40 gives them the height and amenities they need to function at peak efficiency, maximizing their ability to move and store goods, and to incorporate mezzanine space that builds flexibility into their operations.”

“The short list of Phoenix industrial buildings that do feature ceilings of this height were constructed as build-to-suits for a specific and specialized user,” added Lincoln Property Company Director of Real Estate John Orsak. “Ours will be the first 40’ clear height project to be built on a fully speculative basis, and we believe it will be met with significant interest long before completion.”

Lincoln Logistics 40 is a Foreign Trade Zone Magnet Site, offering up to 75 percent personal property tax savings. It sits one mile south of two I-10 full diamond interchanges and is minutes from Loop 101, Loop 303, Highway 85 and the Phoenix Goodyear Airport.

It is also located within the 350-acre The Airport Gateway Center at Goodyear, which at build out will include more than 2.5 million square feet of upscale regional retail, hotel, office and medical uses, and 3 million square feet of work space including industrial and warehouse. Corporate neighbors include Amazon, REI, UPS, Sub-Zero, Dick’s Sporting Goods, Chewy.com and Michael Lewis Foods.

The general contractor for Lincoln Logistics 40 is Layton Construction. The architect is Butler Design Group.

Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE represented the land seller EJM Development Company in the Lincoln Logistics 40 land sale. John Werstler and Cooper Fratt of CBRE represented LPC in the land purchase. Werstler, Kennedy and Fratt serve as the Lincoln Logistics 40 exclusive leasing team.

“Goodyear is experiencing record absorption and historically low industrial vacancy rates, which is indicative of the type of demand happening across our region,” said Werstler. “Given that Lincoln Logistics 40 will be the largest building of its kind available right now in our market, we anticipate that it will be extremely attractive to e-commerce, warehouse and manufacturing users looking to satisfy their supply chain needs across not just the Southwest but the entire Western U.S.”

To discuss development, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at 602.912.8888.

Class-A Commercial Center Accommodates Up to Seven Tenants

Scottsdale, Ariz. – Five Star Development has enlisted CBRE to lease and market its 698,853 square-foot, multi-tenant Buckeye Business Center in Phoenix.

Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE’s Phoenix office will lead the marketing and leasing efforts for the Class-A facility (8585 W. Buckeye Road) located along Buckeye Road between 83rd and 87th avenues.

Built in 2015, the center can potentially house up to seven tenants and offers bay sizes of approximately 20,457 square feet, office improvements to suit, 32-foot clear heights, dock equipment and high-efficiency lighting included in base package, up to 350 available parking spaces and is Foreign Trade Zone capable.

“We’re excited to be working with Five Star Development on Buckeye Business Center,” said Feeney. “Just two weeks into the job and we already have robust interest from prospective tenants, particularly those with distribution requirements. Located in the Tolleson submarket, the center is ideally located with its proximity to the I-10 freeway as well as a strong labor pool for potential users to pull from in the immediate area.”

Feeney added that the team already has three RFPs from users in industries ranging from healthcare and pharmaceuticals to electronics, among others.

For more information on Buckeye Business Center, contact Pat Feeney at 602-735-5530.

PHOENIX, Arizona – CBRE has recently completed the sale of Santa Fe Logistics Center, a 367,963-square-foot industrial warehouse and distribution facility located at 4450 N. 45^th Avenue in Phoenix, Arizona.

The buyer was Greco & Sons, Inc., a national food distributor. The seller was Tratt Properties, a real estate developer/investor based in Phoenix, Arizona. Total consideration for the deal was $22.4 million ($61 PSF).

The 367,963-square-feet facility included a 112,669-square-feet section leased to Hensley, a local Budweiser Distributor. Greco intends to occupy 130,787-square-feet immediately and to make the remaining 124,507-square-feet available for lease.  Its long-term intent is to grow into the other spaces as leases expire.

The LEED Certified distribution facility features 32’ clear height and industrial-grade lighting, insulation and safety features. Additionally, the warehouse boasts direct access to several key Western U.S. markets, including Dallas, Denver, Las Vegas and the ports of Los Angeles and Long Beach via easy access to the I-17 and I-10 freeways.

Tony Lydon with JLL represented the buyer. The seller was represented by Pat Feeney, Daniel Calihan and Rusty Kennedy with CBRE’s Phoenix office.