NewsBusiness

Actions

Home improvement company to sign huge industrial lease in Goodyear, sources say

Elwood Logistics Center.jpg
Posted at 9:12 AM, Dec 08, 2021

GOODYEAR, AZ — Atlanta-based Home Depot Inc. (NYSE: HD) is expected to sign a full lease for a massive industrial building in Goodyear, according to multiple sources.

The company recently started moving product into the Elwood Logistics Center, a 1.3 million-square-foot warehouse that sits near rail line and other industrial facilities such as Macy’s, Andersen Professional Building Services and Huhtamaki.

Home Depot is one of the largest home improvement retailers in the world and sells a wide assortment of building materials, home improvement products, lawn and garden products and more. It also provides multiple services such as tool and equipment rental.

Sources familiar with the deal say Home Depot signed a license agreement, which allows a company to use the building for a specific purpose short term, and could be signing a long-term lease in the future.

Read more of this story from the Phoenix Business Journal.