The 263,606-square-foot industrial building that houses Daimler Trucks North America’s parts distribution facility in Goodyear’s PV| 303 industrial park has sold for $43.1 million, brokers Cushman & Wakefield announced.
Built in 2019, the building at 17017 W. Indian School Road was acquired by global investment firm KKR and sold by Principals of Provident Real Estate Ventures with headquarters in Minneapolis, according to a news release.
Additionally, Merit Partners and Sunbelt Holdings were partners with Provident Real Estate Ventures, and served as both project developer and property manager.
Executive Managing Director Will Strong, Associate Greer Oliver and Analyst Connor Nebeker-Hay of Cushman & Wakefield’s National Industrial Advisory Group represented the seller in the transaction.
“This offering was a rare core investment opportunity to acquire a fully leased, state-of-the-art industrial building with outstanding high quality and long-term tenancy in a high-demand industrial submarket — the asset is positioned in a ‘main and main’ location in the heart of one of the best performing markets in the U.S.,” Mr. Strong said.
“Built less than two years ago for the tenant, the facility was constructed and designed to absolute perfection, and boasts all the modern features sought by today’s industrial users,” he said.
The Class A building is on more than 15 acres within PV | 303, a rapidly growing, 1,600-acre master-planned business park, and beneﬁts from immediate access to Loop 303 and Interstate 10.
The facility features three entrances and exits, a fully air-conditioned warehouse, 36-foot clear height, ample loading with 100% concrete truck courts and dedicated truck lanes, an ESFR sprinkler system, and automatic truck court gates, the release stated.