Phoenix’s Biggest Industrial Spec Building Yet Breaks Ground

Phoenix is getting its largest speculative office building yet. Tratt Properties is building Elwood Logistics Center, a 1.3 million-square-foot class-A industrial facility in Goodyear, Arizona, a qualified opportunity zone. The project is the largest speculative industrial project to ever break ground in the Phoenix Valley, and a sign of the growth in the market.

“As the world’s 29th largest economy with almost $25 billion in exports last year, Arizona has become a supply chain dynamo,” Anthony Lydon, managing director at JLL, tells GlobeSt.com. “The Phoenix/Goodyear region’s strategic location between Mexico and the ports of Southern California—combined with the recently passed United States-Mexico-Canada Agreement—is creating an accretive impact on occupant demand for manufacturing and B-to-B fulfillment space. It also drives jobs. Arizona has more manufacturing jobs than construction jobs.”

There is growing demand for quality, bug box facilities, like this in the Phoenix area. “This project is notable not only as Arizona’s largest speculative industrial space but also a project offering very attractive speed-to-market timing,” says Lydon. “Its year-end shell completion will create a unique scenario for multi-state providers looking for a deep, affordable and qualified workforce.”