CIM Group Inks Major Industrial Lease in Phoenix

CIM Group has signed a complete-developing lease with NPSG World for a 450,619-square-foot industrial facility in Goodyear, Ariz.

Based in Kennesaw, Ga., NPSG World-wide is a 3rd-social gathering logistics service provider which specializes in e-fulfillment warehouse implementation providers, from style and design session to technical integration, buildout and retrofits.

CIM Group acquired the Course A, speculative warehouse in August for $56 million from The Opus Group. Situated on some 29 acres at 2250 S. Litchfield Street, the cross-dock warehouse arrived on line in 2020, according to CommercialEdge knowledge. The residence attributes 36-foot crystal clear heights and 190-foot truck courts, as perfectly as a lot of car and trailer parking spaces.

Located in in Phoenix’s Southwest Valley submarket, the residence is fewer than a mile from downtown Goodyear, with Interstate 10 roughly 2 miles north. The spot is also shut to yet another CIM Group industrial asset, a 276,200-sq.-foot facility also bought from The Opus Team.

Shaul Kuba, co-founder & principal of CIM Group, explained in well prepared remarks that in-demand industrial structures like the 2250 S. Litchfield facility should be perfectly positioned and also fulfill ever-expanding logistics needs.

A very good year for industrial leases

Drawn by the lower cost of labor and organization-friendly local weather, but also by the existence of various Option Zones and a International Trade Zone, extra and far more organizations have arrive to Goodyear in the previous 12 months.

In October, Abercrombie & Fitch partnered with GXO Logistics to create a West Coast hub in Goodyear. The organization leased a 715,000-sq.-foot, Westcore-owned advancement inside of the 1,600-acre PV 303 master-prepared business park.

FedEx opened a regional sortation middle in November, aspect of an growth system aiming to incorporate up to 14.4 million square feet of sortation ability in time for the winter holiday break period. The organization leased a 425,000-square-foot warehouse in Prologis Commerce Park at Goodyear, a 4-making industrial campus totaling much more than 1.7 million sq. toes.

In January, HelloFresh subsidiary Aspect signed a whole-creating lease for 300,100 square feet at Yuma|143, an industrial campus developed by the joint venture of Baker Advancement Corp., Foundation Funds Associates and GTIS Partners.

In accordance to a recent CommercialEdge report, the Greater Phoenix industrial current market experienced a 4.5 % vacancy charge as of March.