Jackie Day is editorial director of
Real Estate Media's Newsletter Division
GOODYEAR, AZ-A Phoenix developer has broken ground on a180,000 sf of mixed-use space in a six-building layout. The Goodyear Commerce Center will deliver in March 2005.
RDB Development and Construction LLC of Phoenix is raising the flex office, warehouse and retail development on 15 acres at the northwest intersection of Van Buren Avenue and Bullard Avenue near Goodyear's town center. The quoted rents start at 65 cents per sf for a three-year term. No leases have yet been signed.
"We are going to have everything from retail to some light manufacturing in there," Christopher St. John, RDB Development's broker, tells GlobeSt.com. "We'll have things like carpet guys and flooring guys and probably retail shops like maybe a rental place or someone who sells ATV parts, also things like dance studios." Spaces will range from 2,500 to 30,000 sf.
St. John says the mixed-use development will build out the close-in land. The site is just off Goodyear's main east-west drag and slightly south of Interstate 10.
RDB has done a number of similar projects in the area, which it holds for the long term after lease-up. "This is nothing new for us. This is what we do," St. John says. "These parks are 'portfolioed' and held." The Goodyear Commerce Center is the developer's largest undertaking inside the city limits. St. John says RDB, also the general contractor, previously built "a couple of small offices," but has since sold them. Robert Ball Architects of Phoenix designed the Goodyear project.
In July, RDB Development opened Surprise Commerce Park in Surprise and is building Peoria Crossing Commerce Park, a similar flex-space development with 240,000 sf in Peoria, which is slated for a September delivery. The firm's also planning a similar development in Glendale. The Goodyear project will be the ninth one for the portfolio.
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