LPC Buys Land for 900 KSF Phoenix Spec Project
- Nov 20, 2017
Lincoln Property Co. will break ground in December on Phoenix’s first 40-foot high speculative industrial building. The company bought the 50-acre plot of land from EJM Development Co., where it will build the distribution facility. Lincoln Logistics 40 will be situated within EJM’s master-planned, 350-acre project, Airport Gateway at Goodyear.
Located at 143rd Avenue & West Yuma Road in Goodyear, Ariz., Lincoln Logistics 40 will total 901,700 square feet and feature 169 dock and grade-level doors, 185 trailer storage units, a maximum of 660 parking stalls and a fiber optic data connection.
Foreign Trade Zone
The speculative development is a Foreign Trade Zone magnet site, which entails savings of up to 75 percent on personal property tax. It is situated minutes away from Interstate 10, Loop 101, Loop 303 and Phoenix Goodyear Airport. EJM’s Airport Gateway will feature over 2.5 million square feet of retail, office and medical office space, as well as 3 million square feet of industrial and warehouse space, at full build-out.
“E-commerce and distribution interests have discovered Phoenix and they are here to stay—and grow. Lincoln Logistics 40 gives them the height and amenities they need to function at peak efficiency, maximizing their ability to move and store goods, and to incorporate mezzanine space that builds flexibility into their operations,” said David Krumwiede, executive vice president for LPC, in a prepared statement.
Two CBRE teams represented both Lincoln Property Co. and EJM Development Co. in the land transaction. Layton Construction has been signed as the general contractor for Lincoln Logistics 40, while Butler Design Group is the architect of the building.
Last month, a partnership of Lincoln Property Co., Ibdar Bank and Ritz Banc Group, purchased a 209,000-square-foot R&D building in North Reading, Mass., which serves as global headquarters for Amazon’s robotics division.
Image courtesy of Lincoln Property Co.