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Nike Buys 900K-SF Lincoln Logistics 40, Pays $70M

Nike Inc. paid $69.8 million to a joint venture consisting of Lincoln Property Co. and Goldman Sachs Group Inc., for ownership rights to a 901,700-square-foot industrial facility in Goodyear, AZ. The sportswear manufacturing giant will use the facility, known as Lincoln Logistics 40, to produce the mid-sole cushioning portion of its athletic shoes.

John Werstler, Cooper Fratt and Rusty Kennedy with CBRE represented the seller; John Grady and Jackie Orcutt also with CBRE, negotiated on behalf of Nike. LPC and Goldman Sachs developed the speculative property, situated on close to 50 acres at 575 S. 143rd Ave., which was completed in late 2018.

The city of Goodyear, west of Phoenix, agreed to provide Nike with roughly $2 million in incentives, in the form of job-creation funding and waiving of review and permit fees for phase one. Nike intends to invest a minimum of $184.5 million in tenant improvements and capital equipment.

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About Mark El-Rayes

Mark El-Rayes is an award winning designer and photographer from Beirut, Lebanon. El-Rayes has over 15 years in the design industry, 5 years of which he served as a Mass Communication Specialist in the United States Navy at Naval Air Station North Island, Navy Public Affairs Support Element - West (NPASE). El-Rayes is a full-stack developer, seo specialist, photographer, and artist.

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