Nike Jumps Into Phoenix With $70M Acquisition
- Aug 21, 2019
A joint venture between Lincoln Property Co. and Goldman Sachs has sold Lincoln Logistics 40, a 901,700-square-foot Class A industrial building outside of Phoenix, to Nike in a $69.8 million all-cash transaction, according to Yardi Matrix. The sports apparel giant plans to manufacture products in the space, which will employ some 500 employees according to BREW.
Lincoln Logistics 40 broke ground in December 2017, shortly after Lincoln Property Co. purchased the 50-acre development site from EJM Development Co. The project took almost one year to reach completion. Layton Construction was the general contractor for the project, and Butler Design Group provided architectural services.
The facility is located on 49.9 acres at 575 S. 143rd Ave. in Goodyear, Ariz., within the Airport Gateway at Goodyear industrial park. Interstate 10 is less than 2 miles north of the asset, some 20 miles west of downtown Phoenix.
Initially built as a speculative development, the property has a wide range of high-end features, among them 40-foot clear heights, insulated ceilings, 3000 amps of three-phase electrical service and 57- by 60-foot speed bays. The building has 161 dock-high loading doors as well as four drive-in doors.