Schnitzer Properties breaks ground on Class A multi-tenant industrial property in Goodyear, AZ

  

 Kelly Royle

PHOENIX, AZ – On behalf of Portland-based Schnitzer Properties, JLL announced the start of construction on Palm Valley Commerce Center, a Class A industrial project designed to serve local entrepreneurs and multinational corporations alike in the Phoenix metropolitan area.

 Located at Auto Drive and 137^th Avenue in the rapidly expanding Phoenix-Goodyear Airport submarket of Goodyear, Arizona, Palm Valley Commerce Center will provide highly divisible, leading-edge space for growing businesses.

 

Marc Hertzberg

 Marc Hertzberg, Executive Managing Director, Riley Gilbert, Senior Managing Director, and Kelly Royle, Vice President, from the Phoenix office of JLL serve as the project’s exclusive leasing brokers.

 

“Palm Valley Commerce Center offers a highly attractive location, modern amenities and convenient access to a robust local workforce – all critical for a tenant’s seamless operational efficiency,” said Royle.

 

 “Combined with this project’s superior divisibility, these factors position Palm Valley Commerce Center as a very symbiotic industrial campus able to successfully support users of all types and sizes.”

 

Upon completion, the project will consist of three buildings totaling 294,840 square feet, offering divisibility ranging from 125,840 square feet to 4,680 square feet. This makes Palm Valley Commerce Center one of the most adaptable new industrial developments currently underway in the region.

Riley Gilbert

“At Schnitzer Properties, we currently have 11 million square feet of industrial projects planned or under construction. We are excited to add Palm Valley Commerce Center in Goodyear to our portfolio,” said Jordan Schnitzer, President and CEO, Schnitzer Properties.

 

Now under construction with delivery expected in Q2 2025, Palm Valley Commerce Center Building A totals 125,840 square feet with 32’ clear height, 135’ truck court, 31 dock high and six grade level doors in a rear-load configuration, and 120 auto parking spaces. Building A is divisible to 22,000 square feet.

 

To expedite move-in, Building A will include comprehensive make ready improvements including LED lighting, warehouse HVAC, 12 pit levelers and 19 edge of dock levelers. It will also offer four completed speculative offices ranging from 1,800 square feet to 2,400 square feet.

 

Future construction at Palm Valley Commerce Center will include a 57,720-square-foot, front-loading Building B and an 11,280-square-foot, rear-loading Building C.

Jordan Schnitzer

Building B will offer 22’ clear height, 64’–155’ truck courts, 17 dock high and nine grade level doors, and 102 auto parking spaces. Building C will offer 30’ clear height, 140’ truck court, 35 dock high and 11 grade level doors, and 185 auto parking spaces.

 

Building B will offer divisibility to 4,680 square feet and Building C to 5,720 square feet.

 

Willmeng Construction is the general contractor at Palm Valley Commerce Center. VLMK Engineering + Design is the architect.

 

Palm Valley Commerce Center is located one-half mile from a full diamond interchange at Interstate 10 and Litchfield Road. It sits approximately two miles from the Phoenix-Goodyear Airport, 21 miles from Sky Harbor International Airport. It is a four-and-a-half-hour drive to the Inland Empire and five-and-a-half-hour drive to the ports of Los Angeles and Long Beach.

 According to JLL’s Q1 2024 Phoenix Industrial Report, demand continues to push metro Phoenix industrial rent growth, with rents rising 2.4% quarter-over-quarter in a market where nearly 40% of newly delivered product is already pre-committed.

 Metro Phoenix recorded 2.9 million square feet of net industrial absorption during Q1 2024, with tenants expected to take occupancy on an additional 4 million square feet of newly leased space in Q2 2024.

 

 

For more news, videos and research resources, please visit JLL’s newsroom.

 

 

Contact:

 

Stacey Hershauer

focusAZ 

P 480.600.0195

www.focusaz.com

 

 

 

 

 

 

 

JLL Capital Markets closes on the sale and secures acquisition financing for Vineyard Hills Apartments, a 202-unit apartment community in Southwest Austin, TX.

Vineyard Hills Apartments, a 202-unit,
2000-vintage, garden-style apartment
 community in Southwest Austin, TX

  

 AUSTIN, TX – JLL Capital Markets has closed the sale and secured acquisition financing for Vineyard Hills Apartments, a 202-unit, 2000-vintage, garden-style apartment community located in Southwest Austin, Texas. Financial details were not disclosed.

Ryan McBride

JLL Capital Markets worked on behalf of the seller, Bob Reeves, to facilitate the sale to S2 Capital. Working on behalf of the new owner, JLL also procured the acquisition loan from Benefit Street Partners. 

Featuring a range of one-, two- and three-bedroom options, Vineyard Hills has an average unit size of 928 square feet. Each unit is designed with features such as walk-in closets, balconies and detached garages and select units with fireplaces, bay windows and tile floors.

 Robert Arzola

Additionally, the property offers its residents a range of amenities, including a pool, heated spa, picnic area with BBQ grills, an on-site laundry facility and a dog park.

Vineyard Hills benefits from its strategic location at 7631 U.S. Hwy 290, offering convenient access to the greater Austin area via Highway 290 and Loop 1 (Mopac Expressway). This prime location is surrounded by sought-after neighborhoods such as Oak Hill, Circle C and Barton Creek, enhancing the appeal for potential residents.

Robert Wooten

Moreover, residents are in close proximity to some of Austin's most prominent and influential employers, including Yeti Headquarters, AMD, NXP Semiconductors, ARM, Solar Winds and Ascension Seton Southwest Hospital.

The JLL Capital Markets Investment Sales and Advisory team was led by Managing Directors Ryan McBride and Robert Arzola, Senior Managing Director Robert Wooten and Associates Alex Fernandes and Nick Beardslee.

 

“The Southwest submarket stands out as one of Austin's highest barrier-to-entry submarkets for new developments, providing a solid foundation for investment and growth,” said Wooten. “As Austin continues to be a top target market among private and institutional investors, the outlook for multi-housing remains strong.”

Alex Fernandes

Senior Managing Director Mark Brandenburg led the JLL Capital Markets Debt Advisory team.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.

 The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. 

The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

For more news, videos and research resources, please visit JLL’s newsroom.

Nick
 Beardslee

Contact:

 

Grace Lewis,

JLL PR

Phone: +1 903 520 3478

Email: grace.lewis@jll.com

  ll.com.