(Read more on the industrial market.)

GOODYEAR, AZ-A 602,000-sf build-to-suit fulfillment center and two distribution spec buildings with 704,718 sf are starting to go vertical at the 296-acre Goodyear Crossing Industrial Park. Development costs for comparable space are averaging $50 per sf.

Goodyear Crossing’s development costs aren’t available. However, Macy’s Inc. of Cincinnati spent $8.39 million to acquire 35.93 acres for its build-to-suit project. Macy’s is the first end-user to buy any of the park’s land from the Indianapolis-based developer, Duke Realty Corp. Macy’s, formerly a division of Federated Department Stores Inc., recently broke ground on its fulfillment center, with completion planned for early 2008.

The spec construction will begin this month on the 191,938-sf Goodyear Crossing One and 512,780-sf Goodyear Crossing Two. Duke’s broker Daniel Calihan, senior vice president in Phoenix for CB Richard Ellis Inc., says the buildings will be on line by February 2008. He tells GlobeSt.com that the quoted rate is 48 cents per sf triple net, with a tenant-improvement allowance of $6 per sf for the smaller building. Goodyear Crossing Two’s quote is 36 cents per sf triple net, with a $3 per sf TI allowance.

“We’re also marketing lots ranging from two to 100 acres,” says Calihan, who represents Duke along with CBRE senior vice presidents Joseph Porter and Patrick Feeney. The team is marketing build-to-suit sites for $7.50 per sf to $12 per sf. If all goes as planned, the park will be built out in five years.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.