Home Depot to Sublease 1.3M-SF in Goodyear

Home Depot placed its massive warehouse on the Valley’s sublease market. Near the end of 2021, the company signed a 10-year lease on a 1.3-million-square-foot warehouse in Goodyear and is now trying to get someone to take it over. The CBRE Group is handling the Home Depot project, which is at 16155 W. Elwood St.

The facility, near the Goodyear airport, has 3,866 square feet of office space, 233 dock doors, 691 trailer parking stalls and 40-foot clear height.

The Phoenix Business Journal reports from 2018 to 2023, Home Depot doubled its warehouse and distribution center assets from 56 million square feet to 111 million square feet of mostly leased space. It had 2,015 total stores by the end of fiscal year 2023, which ended Jan. 28. This year, Home Depot vacated 879,000 square feet of space near Chicago and gave up another 480,000 square feet in the Inland Empire, California. The issue is being blamed on the slow housing market.