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| Jonathan Tratt |
GOODYEAR, AZ – Phoenix-based
Tratt Properties LLC has broken ground on a 1.3 million-square-foot, Class A
industrial development sitting just south of the junction of Interstate 10 and
the Loop 303, in a designated Opportunity Zone in Goodyear, Arizona.
.
Called Elwood Logistics Center, it is
the largest speculative industrial building ever to break ground in the Valley.
“We are thrilled to have many great
developers, such as Tratt Properties, believe in the success and vision of our
rapidly growing community,” said Goodyear Mayor Georgia Lord.
“Goodyear’s
access to market makes this an ideal area for a state-of-the-art speculative
building and provides a perfect location for any growing, expanding, or
relocating business," Lord said.
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| Goodyear, AZ Mayor Georgia Lord |
"Plus,
our residents also benefit by creating additional jobs for our community –
keeping workers close to home and family; and expanded retail and restaurant
options by increasing the city’s daytime population.”
“Elwood Logistics Center brings together the best of a
modern, institutional-grade logistics park in one of the fastest growing
industrial and e-commerce submarkets in the nation,” said Tratt Properties
Principal Jonathan Tratt.
“We
appreciate the support we’ve received from the City of Goodyear to help bring
this project to fruition and are thrilled to celebrate our groundbreaking
today.”
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| Anthony Lydon |
Located on 83 acres at Sarival Avenue and Elwood Street, Elwood
Logistics Center at build-out will total 1,310,258 square feet, with amenities
purposefully designed to meet the needs of major logistics, manufacturing, food
and beverage, and e-commerce users.
This includes a 40’ clear height, cross-dock building with a
190-foot gated and secure concrete truck court and 235 dock-high loading
positions. The site provides parking for more than 1,400 cars and 327 trailers.
Elwood Logistics Center is accessed from the I-10/Cotton
Lane interchange and sits within both a pending Foreign Trade Zone, which would
provide duty advantages and up to 72 percent reduction in real and personal
property tax, and an Opportunity Zone, offering tax advantages for operators
who invest in areas targeted for economic or employment stimulation.
“The combination of Foreign Trade Zone capability and
Opportunity Zone status make Elwood Logistics Center an extremely advantageous
site option,” said JLL Managing Director Anthony Lydon, who serves as
the project’s exclusive leasing broker along with JLL Managing Director Marc
Hertzberg and Vice President Riley Gilbert.
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| Marc Hertzberg |
“Add to that Goodyear’s
position as the sixth fastest growing city in the U.S. and the nation’s
second-highest-ranked workforce market with almost 1.5 million people within a
30-minute drive, and you have a very precise mix of geography and labor that is
critical for a huge range of national and global operations. That mix is a
reflection of the expertise that Tratt Properties brings to this process.”
Headquartered in Phoenix, Tratt Properties specializes in the
acquisition and development of Class A e-commerce and logistics properties in
key markets throughout the U.S., with a focus on delivering modern, flexible
and scalable global supply chain real estate solutions.
Construction on Elwood Logistics Center is now underway and
scheduled to complete in December 2020. The project general contractor is The
Renaissance Companies. The project architect is Deutsch Architecture Group.
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| Riley Gilbert |
About JLL:
JLL (NYSE: JLL) is a leading professional services firm that
specializes in real estate and investment management.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities.
JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 93,000 as of December 31, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated.
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| Elwood Logistics Center, Goodyear, AZ |
Contact:
Stacey
Hershauer
Phone: +1 480 600 0195
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