PHOENIX—CBRE has negotiated the lease of a 77,046 square feet space at Goodyear Crossing Industrial Park located at 3801 S. Cotton Lane in Goodyear.
Schoeller Arca Systems, Inc., a Netherlands-based plastic injection molding manufacturer, has leased the warehouse and distribution space to accommodate production from its approximately 150,000-square-foot manufacturing facility located across the street at 4320 S. Cotton Lane.
Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE's Phoenix office represented the landlord, Indianapolis-based Duke Realty, in negotiating the long-term lease agreement. Schoeller Arca Systems was self-represented. The exact financial terms of the transaction were not disclosed.
“The metropolitan Phoenix industrial market is definitely improving. We've seen net positive absorption of 2.1 million square feet through the second quarter and 3.7 million square feet year-to-date,” says CBRE's Feeney. “The Valley is proving an attractive place for major industrial users to locate and expand. This lease is a prime example of that trend. With this transaction, SAS brings their total footprint in metro Phoenix to over 227,046 square feet, which is a sizeable investment. Activity is up because companies like SAS recognize the benefits of operating in the Valley.”
Schoeller Arca Systems, whose U.S. headquarters is located in Chicago, first entered the Phoenix market in 2011 when the company opened the facility at 4320 S. Cotton Lane which manufactures recyclable and reusable plastic crates for harvesting.
This lease brings the existing buildings at Goodyear Crossing Industrial Park to 100% occupied. Other tenants at the park include Suntech, a major producer of solar panels; e-commerce giant Amazon; and Macy's, which operates an e-commerce distribution facility that was recently expanded by 360,000 square feet and now totals 1 million square feet. With all existing buildings fully leased, Duke Realty is actively and aggressively pursuing build-to-suit and other potential tenant opportunities for the remaining 130 to 150 acres of improved, rail-served industrial lots that also offer foreign-trade-zone status.
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