California firm buys land in Goodyear for industrial development

Goodyear Westcore.jpg
Posted at 9:34 AM, Dec 02, 2020
and last updated 2020-12-02 11:34:30-05

Industrial real estate firm Westcore bought 45 acres of land in Goodyear to be developed into a build-to-suit distribution center for a logistics firm.

California-based Westcore declined to name the tenant but a source familiar with the deal confirmed the tenant is Connecticut-based XPO Logistics Inc., which already has a presence in Phoenix and the West Valley.

Westcore bought the land, which is part of the PV303 industrial park, for $11.2 million and plans to break ground on the facility immediately.

“Goodyear is well suited as a Western regional distribution hub,” Hack Adams, managing director at Westcore, said in a statement. “The city is proximate to major population centers in Arizona and Southern California. The strength of the Western Phoenix industrial market supported our efforts to execute a nine-year lease with a strong online fulfillment company for a state-of-the-art, build-to-suit distribution center.”

Read more from the Phoenix Business Journal.