PHOENIX, ARIZONA – ViaWest Group, in a joint-venture with American Opportunity Zone Advisors LLC, has acquired an 8.8 acre land parcel in Goodyear, AZ, adding a valuable development parcel to their extensive portfolio. This unimproved land site is situated immediately south of their Goodyear Crossing Industrial Park project and marks the fourth Opportunity Zone deal for ViaWest Group.
Goodyear currently ranks as one of the top 10 fastest growing cities in the US and additionally as Arizona’s second fastest growing city. This site is located 3.2 miles south of a full-diamond
interchange on Interstate 10, and within a mile of the future Loop 303 southern extension from I-10. This position allows for ease of regional distribution and access to all areas of the Valley. Notable neighboring distribution centers include Macy’s, Home Depot and Amazon.
ViaWest Group procured the land from Sun MP Investments. The transaction was facilitated by Greg Vogel, Wes Campbell and Max Xander with Land Advisors Organization Phoenix Office. Development plans include a 92,621 SF industrial building with ample acreage for an outdoor storage yard construction slated for 2023 and completion that year. Lee and Associates, Allen Lowe and Jeff Conrad, will be handling the leasing for the new building.
“Currently our Goodyear Crossing property, with 411,000 SF is over 100% leased at completion, adding Goodyear Phase II is a natural addition to the growing demand for industrial space.” states Alex Boles, Director of Investments and Development at ViaWest Group. He further qualified the location by adding, “The Goodyear submarket has been particularly strong, accounting for over a quarter of the overall absorption over the past 3-4years.”
The Federal Opportunity Zone provided an incentive for ViaWest Group’s initial investment at Goodyear Crossing. Finding the industrial demand high for an ideal distribution location, ViaWest expanded their interests by procuring 8.8 acres of additional neighboring land to develop. Their cumulative industrial development projects will contribute to Goodyear’s growth and prosperity.
Established in 2003, ViaWest Group is a Phoenix-based, full-service commercial real estate investment, development, and property management firm. ViaWest Group is one of the fastest growing real estate investment companies in the Southwestern U.S. with over $2.5 billion in deals since inception, 8+ million SF owned and managed, with offices in Phoenix and Denver. ViaWest Group is currently seeking to acquire and develop office, industrial, and multi-family buildings and land parcels in the Southwestern U.S. Visit our website www.viawestgroup.com
PHOTO: Goodyear Phase II rendering