Westcore, a leading industrial real estate acquisition, development and asset management firm, acquired approximately 45 acres of land in Goodyear, Arizona from First Industrial for $11.2 million. Westcore will break ground immediately to build a 721,156-square-foot, build-to-suit distribution center for a national third-party logistics company.
The property is located at Thomas and Citrus roads near I-10 and Loop 303. Westcore is building the distribution center within the PV|303 industrial park. With 36-foot clear height, ESFR and secure site trailer storage capacity, the cross-dock facility will offer features in high demand within the industrial market.
“Goodyear is well suited as a Western regional distribution hub,” said Hack Adams, managing director at Westcore. “The city is proximate to major population centers in Arizona and Southern California. The strength of the Western Phoenix industrial market supported our efforts to execute a nine-year lease with a strong online fulfilment company for a state-of-the-art, build-to-suit distribution center.”
Notable corporate neighbors include Dick’s Sporting Goods, Daimler Chrysler, REI, fairlife and Ferrara Candy Company.
To facilitate on-time delivery of the distribution center in June 2021, Westcore engaged local development company Merit Partners. The architect is Butler Design Group, and engineering work is provided by Hunter Engineering. The general contractor is Stevens-Leinweber Construction.
Westcore is a fully integrated commercial real estate investment company with institutional scale and capabilities that operates with speed, agility and adaptability. Since its founding in 2000, Westcore have acquired, managed and sold more than $9 billion in industrial and office assets, comprised of more than 750 buildings and totaling over 50 million square feet. In addition to its U.S. headquarters in San Diego, Westcore has regional offices in Los Angeles and Oakland, as well as satellite offices in London, England; Berlin, Germany; and Vienna, Austria.