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Prologis Buyer in Arizona’s Largest-Ever Business Park Sale
Industrial real estate titan Prologis has paid $184 million for the newly-built Airpark Logistics Center in Goodyear. The seller, Creation, says it’s the largest multi-building industrial business park acquisition in Arizona history.
Located directly adjacent to Phoenix Goodyear Airport, the site sits on 170 acres. The first phase, comprised of three buildings with 1,441,140 square feet of leasable space, was completed last month. The second phase includes 84 acres of undeveloped, build-to-suit land. At full build-out, the development represents more than 2.7 million square feet.
Prologis broke ground earlier this year on the nearby Prologis 303 Business Park, a new 112-acre industrial facility on the southwest corner of Cotton Lane and Camelback Road. The company also developed the Prologis Commerce Park in Goodyear.
Creation remains active throughout the Phoenix Metro area, with several new developments underway totaling 6.5 million square feet with a value of over $1.5 billion.
Cushman & Wakefield represented Creation and CrossHarbor Capital Partners.
- ◦Sale/Acquisition
