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Photo credit: Courtesy of JLL
Austin-based Hines picked up Goodyear Crossing II, an 820k SF Class-A fulfillment center, for $56.2M. The building is fully leased and features a 30-foot clear height, 178 dock-high doors and full air conditioning. About 15k SF is dedicated to office space.
“The Phoenix industrial market is in the early stages of recovery, making assets in this market a very sound investment,” says JLL managing director Bo Mills, who repped the seller along with fellow managing director Mark Detmer. “Goodyear Crossing II is a high-quality asset with investment-grade tenancy and is a tremendous addition to Hines’ portfolio.”
