Phoenix industrial firm plans 1.2 million square feet in southwest Valley

Phoenix industrial firm plans 1.2 million square feet in southwest Valley

Article Originally Posted By Phoenix Business Journal On July 30, 2021

Phoenix-based GO Industrial bought its first parcel of land in the Valley and is planning a 1.2-million-square-foot industrial project.

The firm closed on 77 acres at the southeast corner 99th Avenue and Buckeye Road, south of I-10, for $23.55 million, according to real estate database Vizzda. The project, called GO|99 will break ground in December, and is expected to be complete in the fourth quarter of 2022.

“GO|99 will reflect our unique brand of high quality, highly functional industrial real estate, with diverse product sizes that will allow us to capture the most prominent e-commerce and logistics users in the growing Phoenix market,” GO Industrial Managing Partner Robert Guerena said in a statement. “We are excited to launch this debut project in our home state. It tees off a busy summer for the GO Industrial team that will include more project announcements in the coming months.”

GO Industrial is the new industrial arm of Phoenix-based office developer George Oliver, which has several notable projects in the Valley, including most recently buying the Hayden Station building in downtown Tempe and is planning a $14 million transformation.

The project will include three buildings. Buildings 1 and 2 will total 246,997 square feet and 272,456 square feet, respectively, and will have rear-loaded, mid-bay configurations. Building 3 will total 763,410 square feet and will provide a cross-dock configuration.

Andy Markham and Mike Haenel of Cushman & Wakefield represented GO Industrial in the land purchase and will serve as the leasing brokers for the project.

“With GO|99, GO Industrial will deliver three Class A logistics buildings to one of the best locations in the Southwest Valley submarket,” Markham said in a statement. “Year to date, the Phoenix industrial sector has absorbed 12 million square feet and tenant demand continues to remain extremely robust. These buildings cater to what current tenants are demanding.”

The architect is DLR Group, and the general contractor is Willmeng Construction. Arcadia Management group will be the property manager.

The Phoenix metro saw a record-breaking amount of industrial construction get underway in the first half of 2021, according to CoStar Group Inc. research. At the end of the second quarter, 25 million square feet of industrial space was being built across the Valley.