PHOENIX—Prominent West Valley employer SubZero plans to expand operations with the addition of an 11.5-acre land parcel at PV303, the master-planned business park which sits at the confluence of Interstate 10 and Loop 303 in Goodyear.
SubZero currently operates a 438,501-square-foot manufacturing and distribution facility within PV303 at 4235 N. Cotton Lane in Goodyear. The industry leader in premier cooking and preservation appliances has purchased the additional acreage to facilitate an expansion of their current facilities, which SubZero purchased in 2010.
Pat Feeney, Dan Calihan and Rusty Kennedy with CBRE's Phoenix office negotiated the transaction on behalf of development owner, Sunbelt Holdings. The land was purchased by SubZero, who was represented by John Pompay with Cassidy Turley's Phoenix office.
“This sale is a testament to the continued recovery of the industrial market in Phoenix,” said CBRE's Feeney. “The Phoenix metro has become recognized as a mature industrial market and a large number of users are actively looking across the Valley. SubZero, who's already been in the market for the past four years, recognizes the benefits offered in Metro Phoenix and PV303 in particular.”
The land parcel was sold for $2 million.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
