{"id":1004685528,"date":"2023-10-12T03:54:13","date_gmt":"2023-10-12T11:54:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004685528"},"modified":"2024-01-12T04:23:23","modified_gmt":"2024-01-12T12:23:23","slug":"prologis-pays-184m-for-phoenix-area-industrial-campus","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/prologis-pays-184m-for-phoenix-area-industrial-campus\/","title":{"rendered":"Prologis Pays $184M for Phoenix-Area Logistics Campus"},"content":{"rendered":"\n<div class=\"wp-block-jetpack-slideshow aligncenter\" data-effect=\"slide\"><div class=\"wp-block-jetpack-slideshow_container swiper-container\"><ul class=\"wp-block-jetpack-slideshow_swiper-wrapper swiper-wrapper\"><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1215\" height=\"910\" alt=\"Airpark Logistics Center\" class=\"wp-block-jetpack-slideshow_image wp-image-1004685529\" data-id=\"1004685529\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-2.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-2.jpg 1215w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-2.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-2.jpg?resize=768,575 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-2.jpg?resize=1024,767 1024w\" sizes=\"(max-width: 1215px) 100vw, 1215px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">At full build-out, Airpark Logistics Center will comprise 2.7 million square feet of industrial space. All images courtesy of Prologis<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"1688\" height=\"1125\" alt=\"Airpark Logistics Center\" class=\"wp-block-jetpack-slideshow_image wp-image-1004685530\" data-id=\"1004685530\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg 1688w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg?resize=300,200 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg?resize=768,512 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg?resize=1024,682 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-3.jpg?resize=1536,1024 1536w\" sizes=\"(max-width: 1688px) 100vw, 1688px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">The sale of Airpark Logistics Center represents the largest multi-building industrial acquisition in Arizona&#8217;s history<\/figcaption><\/figure><\/li><li class=\"wp-block-jetpack-slideshow_slide swiper-slide\"><figure><img loading=\"lazy\" decoding=\"async\" width=\"2250\" height=\"1125\" alt=\"Airpark Logistics Center\" class=\"wp-block-jetpack-slideshow_image wp-image-1004685531\" data-id=\"1004685531\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?w=1024\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg 2250w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?resize=300,150 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?resize=768,384 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?resize=1024,512 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?resize=1536,768 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/10\/Airpark-Logistics-Center-Exterior-4.jpg?resize=2048,1024 2048w\" sizes=\"(max-width: 2250px) 100vw, 2250px\" \/><figcaption class=\"wp-block-jetpack-slideshow_caption gallery-caption\">LGE Design Build designed and built the first phase of the project<\/figcaption><\/figure><\/li><\/ul><a class=\"wp-block-jetpack-slideshow_button-prev swiper-button-prev swiper-button-white\" role=\"button\"><\/a><a class=\"wp-block-jetpack-slideshow_button-next swiper-button-next swiper-button-white\" role=\"button\"><\/a><a aria-label=\"Pause Slideshow\" class=\"wp-block-jetpack-slideshow_button-pause\" role=\"button\"><\/a><div class=\"wp-block-jetpack-slideshow_pagination swiper-pagination swiper-pagination-white\"><\/div><\/div><\/div>\n\n\n<p><strong>Prologis<\/strong> has expanded its Phoenix footprint with the acquisition of Airpark Logistics Center, a 2.7 million-square-foot industrial park in Goodyear, Ariz. A partnership between <strong>Creation<\/strong> and <strong>CrossHarbor Capital Partners<\/strong> sold the asset for $184 million, reportedly setting the record for Arizona\u2019s largest multi-building industrial park sale.<\/p>\n<p>Developed in two phases, the campus spans 170 acres near West Yuma Road and South Bullard Avenue. Close to the Phoenix-Goodyear airport, the industrial park is within 2.5 miles of Interstate 10, which connects it to Phoenix. Several major industrial properties, including UPS Supply Chain Solutions and an Amazon Fulfillment Center, are also nearby.<\/p>\n<p>The first phase of the project\u2014designed and built by <strong>LGE Design Build<\/strong>\u2014was completed last month and encompasses three buildings totaling 1.4 million square feet of leasable space. The buildings have 32- to 40-foot clear ceiling heights, car and trailer parking spaces and ESFR fire systems. The second phase includes 84 acres of build-to-suit undeveloped land. Plans call for the construction of two buildings totaling 1.3 million square feet.\u00a0<\/p>\n<p><strong>Cushman &amp; Wakefield<\/strong> Executive Vice Chairman Will Strong, Senior Director Kirk Kuller, Director Michael Matchett and Associate Molly Hunt represented the sellers in the transaction. <strong>JLL<\/strong> is overseeing the leasing efforts at the development.<\/p>\n<h2>Prologis\u2019 industrial expansion accelerates<\/h2>\n<p>Airpark Logistics Center is some 5 miles from Prologis&#8217; <a href=\"https:\/\/www.commercialsearch.com\/news\/prologis-phoenix-project-moves-forward\/\">303 Business Park<\/a>, a 113-acre industrial park totaling 1.6 million square feet. Currently, the firm owns 86 buildings encompassing 14.5 million square feet in the Phoenix metro area, as well as another 1.9 million square feet of assets under construction.<\/p>\n<p>The company is active in other markets, as well, and as part of its expansion plan, it recently acquired <a href=\"https:\/\/www.commercialsearch.com\/news\/blackstone-sells-3-1b-industrial-portfolio\/\">14 million square feet<\/a> of industrial assets from Blackstone for $3.1 billion. In August, Prologis <a href=\"https:\/\/www.commercialsearch.com\/news\/prologis-pays-87m-for-bay-area-industrial-asset\/\">paid $87 million<\/a> for another 246,450-square-foot industrial and research building in Fremont, Calif.<\/p>","protected":false},"excerpt":{"rendered":"<p>This deal reportedly sets an Arizona record for a multi-building industrial park.<\/p>\n","protected":false},"author":2703,"featured_media":1004685532,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,1601,15],"tags":[51891,37832,34908,32796,32956],"class_list":["post-1004685528","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-phoenix","category-west","tag-creation","tag-crossharbor-capital-partners","tag-cushman-wakefeld","tag-jll","tag-prologis"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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