west valley
Volume 33 Issue 16 Goodyear, AZ
January 19, 2022
Business Briefcase BY LAUREN SERRATO
West Valley View Staff Writer
G
oodyear is growing, and two more companies will make the city their home. First, Goodyear will open a two-building industrial project that will house a meal delivery service. Next, it will expand Cotton Lane Commerce Park at the southwest corner of Elwood Street and South Cotton Lane. The project in total will include 975,000 square feet of logistics space.
HelloFresh subsidiary Factor signs full-building lease
IN THE BIZ
JLL’s Phoenix office has completed a 300,100-square-foot lease to HelloFresh’s subsidiary Factor, a fully prepared meal delivery service. The lease is at Yuma|143, which is an under-construction, Class A, two-building industrial project being co-developed in Goodyear by Chicago-based Baker Development Corporation and New York’s Foundation Capital Partners, with capital partner GTIS Partners. The lease marks the second recent metro Phoenix industrial commitment by HelloFresh, the world’s largest meal-kit company, which operates in 16 markets across the globe. Factor will use the building as a regional packaging and production center and expects to begin operation later this year. This new facility will fuel the next Public Notices ............... page 3 © Copyright, 2022 West Valley View, Inc.
phase of Factor’s growth to serve customers in the West and Midwest regions. The new production center is expected to generate approximately 800 or more new local jobs once fully operational. “The city of Goodyear is very pleased to welcome Factor,” Goodyear Mayor Joe Pizzillo said. “We are glad they have chosen to locate their new facility in our growing community. Factor’s fully prepared healthy meals contribute to the health and wellness of their customers across the U.S., and this great addition to Goodyear provides new employment opportunities and continues to grow our economy, offering an enhanced quality of life for our residents.” “We’re excited to be increasing our production capabilities in Arizona as we continue to grow Factor,” said Mike Apostal, CEO of Factor. “The new Goodyear facility accommodates the increasing demand for Factor, providing new and existing customers with fresh, healthy and convenient ready-to-eat meal solutions.” The new Factor building will sit at 14170 W. Yuma Road, between Litchfield and Bullard roads. It is being developed in tandem with an adjacent, fully speculative, 190,000-square-foot Class A industrial building. Both buildings are slated for completion by BDC early this year. They sit immediately north of Phoenix Goodyear Airport and within 2 miles of Interstate 10, placing them (USPS 004-616) is published weekly
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within a 30-minute drive of 1.7 million residents and approximately five to six hours from the ports of Southern California. “Goodyear has proven itself as a logistics frontrunner and is quickly becoming a light manufacturing hub, ranking as the ninth fastest-growing city in the U.S. and the No. 2-ranked U.S. workforce market,” Baker Development Corporation principal Daniel Slack said. “The city’s geographic, regulatory and demographic advantages are what encouraged us to build two best-inclass projects here, totaling approximately 1 million square feet. These attributes, when coupled with market forces such as re-shoring and supply chain disruptions, will continue to attract leading tenants like Factor. We welcome HelloFresh and Factor to Yuma|143.” Yuma|143 is BDC’s fourth major Phoenix-area industrial development. It is preceded by VB|143, a $46 million, 325,000-square-foot Class A industrial project also located in Goodyear and co-developed with FCP. Yuma|143 is in the Goodyear Gateway South master-planned industrial park, surrounded by corporate neighbors such as FedEx, Quetico, Chewy and UPS. It offers Foreign Trade Zone/Magnet status, allowing up to a 72% reduction in
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