Atlanta-Based Real Estate Development Firm Purchases 41 Acres of Land in Phoenix Area – CBRE

Land will be developed into two-building industrial project on Loop 303

Phoenix – MDH Partners has purchased roughly 41 acres in Goodyear, Ariz. for an undisclosed amount. The Atlanta-based commercial real estate development firm plans to construct a two-building speculative industrial project called Gateway 303.

Pat Feeney and Dan Calihan of CBRE represented the seller, local commercial real estate development firm Merit Partners, in the transaction. Rusty Kennedy of CBRE assisted the buyer and will lease the project, which is expected to be delivered in late 2021.

Located at the northwest corner of Loop 303 and Thomas Road, Gateway 303 will be part of PV|303, a 1,600-acre master-planned business park approximately 25 miles west of Downtown Phoenix and Phoenix Sky Harbor International Airport. PV|303 also falls into Foreign Trade Zone #277. The project will consist of two Class A logistics facilities, both of which will have direct Loop 303 frontage with significant signage opportunities.

Building A will be 362,270 square feet and feature 36’ clear height, 333 car parking spaces and 81 trailer parking spaces. Building B will total 238,854 square feet with 32’ clear height, 268 car parking spaces and 43 trailer parking spaces. The buildings are designed with the structural capacity to be upfitted for solar paneling as part of MDH’s ESG initiative.

Gateway 303 will be adjacent to Loop 303, connecting Goodyear to the rest of the Phoenix Metropolitan Area and supporting regional distribution and last-mile demand for the growing populations in Goodyear and Greater Phoenix.

“We’re excited to help facilitate more amazing growth in Goodyear,” said MDH Partners’ Matt Gregory. “Mid-size tenants have very few available options along the 303 Corridor, so Gateway 303 will provide them the needed supply to continue the area’s high-quality growth.”

Added CBRE’s Kennedy, “With the incredible velocity of user demand in the Goodyear submarket, this property will cater to tenants between 50,000 and 360,000 square-feet. With a fantastic labor base and unsurpassed access to Interstate 10 and Loop 303, Gateway 303 will deliver a solution to an underserved tenant base in the Goodyear submarket.”

Gateway 303 will increase MDH Partners’ Phoenix portfolio to nearly one million square feet across nine buildings. The project is being designed by Butler Design Group and Hunter Engineering and will be built by ARCO Construction.

Added Kennedy, “This fantastic development will add to MDH Partners’ growing presence in the Greater Phoenix market and serve as a statement that they are committed to growing their presence and being here for the long haul.”