Fast-Moving Warehouse Developer Buys Land for Industrial Park Near Phoenix

Article originally posted on CoStar on January 11, 2021

Phoenix, including its outer suburbs such as Goodyear, is a strong market for industrial investments as it offers easy connectivity to California and Nevada. (Getty Images)<br/>

MDH Partners bought 41 acres and intends to build an industrial park in the massive PV|303 development in Goodyear, Arizona, a fast-growing Phoenix suburb that has added millions of square feet of warehouses in recent years.

Merit Partners sold the land for an undisclosed amount to MDH, which plans a two-building speculative logistics project totaling 600,000 square feet called Gateway 303 at the northwest corner of Loop 303 and Thomas Road in PV|303, the Phoenix office of CBRE Group said. CBRE represented Merit Partners in the sale.

One building sized at 362,270 square feet is designed to have a 36-foot clear height with 81 trailer parking spaces, and the other, 238,854-square-foot warehouse is designed to have a 32-foot ceiling with 43 trailer spaces. The buildings are scheduled to be ready late this year.

PV|303 is a 1,600-acre master-planned development 25 miles west of downtown Phoenix and has direct frontage with opportunities to post signage visible from busy Loop 303, CBRE said. The building rooftops are designed to be fitted with solar paneling.

MDH, based in Atlanta, is expanding quickly in the Southeast and Southwest United States and hasn’t paused during the coronavirus pandemic, CEO Jeff Small told CoStar News in April.

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