CIM Group Expands Industrial Portfolio with Acquisition of Newly Constructed 276,183-Square-Foot Facility in Goodyear, Arizona
PHOENIX--CIM Group announced today that it has acquired Goodyear Airport 85, a recently completed 276,183-square-foot industrial building adjacent to the Phoenix Goodyear Airport in Goodyear, Arizona.
Located at 1685 S. Litchfield Rd., Goodyear Airport 85 is a state-of-the-art rearload industrial facility that offers 36-foot clear heights, 48 exterior dock doors, and ample car, trailer, and bicycle parking.
Located in a designated Foreign Trade Zone, the property offers proximity to the I-10 freeway and a direct connection to the Ports of Los Angeles and Long Beach, Loop 303, Union Pacific Railroad, and Sky Harbor International Airport.
Goodyear is located in Phoenix’s southwest valley and provides proximity to Southern California which has proven to drive strong demand from both e-commerce and regional distribution centers for tenants focused on low cost of labor, cost of power, and a business-friendly climate.
“The acquisition of Goodyear Airport 85 adds to our prime industrial facilities in the Phoenix market that is a part of a major network for the movement of goods in the West. These two, brand new, state-of-the-art properties in Goodyear, near the airport and connected to the area’s major transportation corridor, expands CIM Group’s portfolio of top industrial facilities strategically located to meet the ongoing demand for quality warehouse space,” said Shaul Kuba, Co-Founder and Principal, CIM Group.
In addition to Goodyear Airport 85, CIM Group recently acquired a 450,619-square-foot industrial facility nearby at 2250 S. Litchfield Rd., the largest site with rail access east of Loop 303.
For more than 25 years, CIM Group has utilized its broad expertise to own, develop, reposition, and operate real estate assets, transforming communities and creating dynamic environments throughout the Americas.
About CIM Group
CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.