Goodyear Office Market Guide

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GOODYEAR ARIZONA

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OFFICE INDUSTRY ANALYSIS & TRENDS Goodyear, Arizona

2022 OFFICE MARKET GUIDE

Fastest Growing U.S. City – US Census Bureau

Goodyear City Hall at GSQ

Joe Pizzillo Mayor, City of Goodyear

City of Goodyear Office of the Mayor 1900 North Civic Square Goodyear, Arizona 85395 (623) 932-3910 or (800) 872-1749 developgoodyearaz.com

I welcome your consideration of the City of Goodyear, Arizona as the next location for either your Advanced Business Services or Technology business.

Goodyear is the 9th Fastest Growing City according to the US Census Bureau, with more people and businesses calling Goodyear home every day. The American dream is thriving in Goodyear, and we want you to be a part of it!

GEN 1 at GSQ

Here are just some of the reasons Goodyear is the perfect place for you and your business: • 1.3 million educated and skilled employees within a 30-minute drive, including a highly qualified resident workforce • Ideal location situated along the I-10 freeway between the Loop 101 and Loop 303 freeways • Convenient regional and international travel in close proximity to Phoenix Sky Harbor International Airport and Phoenix Goodyear Airport • Multiple options for ground-up development and a strong inventory of existing spaces

Palm Valley Office Park

• Infrastructure ready as evidenced by five data center companies with six campuses • Upscale regional destination offering employees desired amenities and recognized as the west valley’s hot spot for attracting many new retail, restaurants, and housing options • A business-friendly environment and a city that prides ourselves in its business relationships by going to great lengths to accommodate the needs of businesses • Welcoming community with an excellent quality of life We are committed to seeing your business succeed, and our Economic Development team is here to help you and show you why Goodyear is where your business needs to be. As you explore the city, you will see firsthand why “You’re in Good Company” when choosing Goodyear. Everyone is filled with confidence that Goodyear is an excellent place for businesses to thrive.

Goodyear Professional Plaza

Sincerely,

Joe Pizzillo Mayor, City of Goodyear Flite Goodyear

GOODYEAR BY THE NUMBERS Goodyear is a growing hub for Advanced Business Services and Technology. Many companies like Microsoft and Cancer Treatment Centers of America, and Amazon Global Security have invested in growth within Goodyear because of the infrastructure ready sites, low cost of doing business, talented workforce, business friendly environment, and quality of life.

Population

Total Housing Units

106,094

40,916

1

1

Median Age

38.7

2

46.6%2

2

7,142

53.4%

age 15 and over within 30-minute drive time

Mean Household Income

Professional Workers

63.6%2

103,387

2

$

management, business, sales, office

Median Gross Rent

1,5432

$

5 years | FY2017-2021

Female

1.3M

90,5772

Single-Family Home Permits

2

Workforce Population

$

410,300

$

Gender Male

Median Home Value

Median Household Income

POPULATION GROWTH 1990-2050

EDUCATIONAL ATTAINMENT 71.2% of the adult population in Goodyear has some college or a college degree.

2

Actuals and Estimated 228,600

2

38%

33.2%

Some College/ Associate Degree

192,200

Bachelor Degree or Higher

140,300 96,789 65,275

MAJOR EMPLOYERS*

18,911 6,258

1990

1. Amazon

8. Andersen Windows

2. UPS

9. McLane Company

3. Macy’s – Bloomingdale’s

10. AerSale

4. Chewy.com

11. REI

5. Abrazo West Campus

12. Huhtamaki

6. Cancer Treatment Centers of America – City of Hope

13. Dick’s Sporting Goods

7. Sub-Zero, Wolf, Cove

2000

2010

2020

2050

A R I Z O N A

Goodyear 60

Phoenix

METRO PHOENI X 101 17

303

15. Synder’s of Hanover – Campbell’s Snacks

Glendale 101

Scottsdale

10

Phoenix-Goodyear Airport Rail Line

DATA CENTERS

2040

Goodyear is only 20 Minutes from Downtown Phoenix

14. CornellCookson

* by number of employees

2030

Sky Harbor Airport

Phoenix

85

Goodyear

Tempe

60 202

202

85

1. Compass Datacenters

4. Microsoft (Broadway)

2. DCX – GYR1

5. Stream Data Centers

3. Microsoft (Loop 303)

6. Vantage Data Centers

Source: City of Goodyear Development Services |

347

10

238 8

1 Maricopa Association of Governments (MAG) (10/2022 Draft Estimates) | 2 US Census: 2021 American Community Survey (released 9/22)

AVAILABLE OFFICE SITES OPPORTUNITIES A. B. C. D. E. F. G. H. I. J. K. L. M. N. O. P. Q.

HOUSING BY THE NUMBERS Single Family Permits Data / Trends 2021 showed rapid growth with the highest number of single family home construction permits since 2007.

GEN 1 at GSQ (near Goodyear City Hall) Existing GSQ Land W of SWC McDowell & Bullard Land SWC McDowell & Sarival Land W of SWC McDowell & Sarival Land Goodyear Professional Plaza Under Const.

NEC of I-10 & Bullard Land SEC of I-10 & Bullard Land S of SWC of I-10 & Bullard Land NEC of Van Buren & Bullard Land SWC of Van Buren & Bullard Land Palm Valley Office Park 1 & 2 Existing Goodyear Business Center Existing Former Goodyear City Hall Existing Flite Goodyear Existing Estrella Professional Center Existing W of Estrella Professional Center Land

1,799

E

2021 Goodyear Single Family Permits

80%

303

Households with Families non-single households

10

40,000

West Valley Permits Issued

85

5 years | FY2017-2021

WEST VALLEY 5-YR SFP TOTALS City

5 YRS: 2017-2021

Buckeye

13,008

Surprise

9,012

Goodyear

7,200

Peoria

6,812

Avondale

1,877

Glendale

1,513

Goodyear totals 191.2 square miles or 122,369 acres.

Red highlight shows area represented in aerial.

Source: Home Builders Association of America

Multi-Family Residential Growth More than 8,500 multi-family units are on the way, which will bring thousands of new residents to Goodyear.

4,647

Existing Multi-Family Units

4,800+

Multi-Family Apartment Units under construction/in process

3,400+

Multi-Family Detached Units under construction/in process

Regional Amenities

NFL Football - Arizona Cardinals MLB Baseball - Arizona Diamondbacks NHL Hockey - Arizona Coyotes NASCAR - Phoenix Raceway NBA Basketball - Phoenix Suns Phoenix Art Museum Phoenix Center for the Arts Arts HQ - West Valley Arts Council Comerica Theatre Celebrity Theatre

Skyline Regional Park Spring Training – 15 Cactus League teams White Tank Regional Park Wigwam Resort Phoenix Zoo Wildlife World Zoo, Aquarium & Safari Park

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GOODYEAR ARIZONA

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#

Best Places to Live

in the nation by Money magazine

A B

B

L C

F

G H

Q

P

I

M J

K

N

O

Goodyear Amenities

• Wide variety of dining, shopping, and entertainment options • 20,000+ acres of recreational parks • 170+ neighborhood parks • 47 miles of hiking & biking trails • InnovationHub for small business and entrepreneur free resources • 200+ medical and healthcare providers

Goodyear Parks & Entertainment

7 Golf Courses 10+ Hotels Bullard Wash Park Civic Park at GSQ Community Centers Dog Parks Estrella Mountain Regional Park Georgia T. Lord Library Goodyear BMX Raceway

Goodyear Ballpark home to Spring Training for Cincinnati Reds and Cleveland Guardians Goodyear Community Park Goodyear Municipal Pool Goodyear Recreation Campus Harkins Theatre Shooter’s World Star Tower at Estrella Trampoline Parks

Luxury Housing Options

Palm Valley Estrella Litchfield Park & Wigwam Vanderbilt Farms Verrado PebbleCreek

GOODYEAR ARIZONA

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up to

WHY CHOOSE GOODYEAR? Goodyear is strategically located along the 1-10 commercial corridor, a quick 20-minute drive from downtown Phoenix. The greater metro area is known to be one of the top markets in the nation to locate and expand advanced business services and technology operations.

less %operating costs

than neighboring California

When compared to markets like San Francisco and Seattle, Greater Phoenix has significantly lower labor costs. Compared to Salt Lake City, Greater Phoenix is competitive on cost while offering a labor pool that is three time larger.

ANNUAL OPERATING COST - ADVANCED BUSINESS SERVICES & TECHNOLOGY Metro

Employee Payroll

Benefits

Real Estate

Property Tax

Total Operating Cost

Index

Phoenix

$12,381,155

$2,776,930

$1,582,000

$2,629

$16,742,714

100.00%

Salt Lake City

$12,573,489

$2,819,118

$1,456,500

$61,150

$16,910,257

101.00%

Austin

$13,229,009

$2,982,147

$1,897,000

$111,333

$18,219,489

108.80%

Dallas-Fort Worth

$13,562,088

$3,056,118

$1,611,000

$135,144

$18,364,350

109.70%

Denver

$14,088,253

$3,172,222

$1,641,500

$111,508

$19,013,483

113.60%

Seattle

$14,829,887

$3,382,134

$1,819,500

$44,332

$20,075,853

119.90%

Los Angeles

$14,351,096

$3,256,225

$3,000,000

$58,550

$20,665,871

123.40%

San Francisco

$16,514,575

$3,740,857

$3,696,000

$59,000

$24,010,432

143.40%

300+ days of sunshine

Easy access to Phoenix Sky Harbor International Airport & Phoenix Goodyear Airport

Sixth largest finance and insurance sector in the nation (Greater Phoenix area)

Source: Greater Phoenix Economic Council (GPEC) August 2022 Operating Cost Analysis SEATTLE $38.52

COST OF DOING BUSINESS

$60,237

Low operating costs

COMPARISON OF MAJOR ECONOMIC HUBS Phoenix’s West Valley professional service costs are roughly on pace with the national average. This compares to markets like Denver and Los Angeles, where the same labor costs are 10.3% and 15% above the national average.

SAN FRANCISCO $62.04

Consistent and reliable high capacity fiber network

$62,005 SALT LAKE CITY $24.60

LOS ANGELES $41.88

$46,904

DENVER $29.16

Highly specialized workforce

$49,213

Labor pool larger than many competing markets

$47,570 GREATER PHOENIX $27.96

$45,573

COST OF LIVING COMPARISON DALLAS $28.68

Least Expensive ($20+ PSF)

RENT SCALE

Most Expensive ($60+ PSF)

Average Asking Rents Average Annual Wage Source: Greater Phoenix Economic Council (GPEC) August 2022 (Bureau of Labor Statistics, 2021 Occupational Employment Estimates; Costar Q2 2022)

$45,469

AUSTIN $43.80

$46,800

Metro Dallas, TX Austin, TX Phoenix, AZ Denver, CO Salt Lake City, UT Seattle, WA Los Angeles, CA San Francisco, CA

Composite Index 101.2% 101.8% 104.2% 110.0% 110.5% 150.7% 151.9% 184.2%

Source: GPEC August 2022 Lightcast

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GOODYEAR ARIZONA

Avg. daily traffic count at major i n c r e a s e intersections

GEN 1 at GSQ

CLASS A OFFICE SPACE GROWING WITH GOODYEAR GSQ introduces a modern, forward-thinking destination that grows with Goodyear. Featuring a two-acre civic park surrounded by GEN 1, a class A office building with four-level parking structure and Goodyear City Hall and Library.

GEN 1 at GSQ is an exceptional location to absorb both new-to-market and expansion of existing industry clusters in finance, insurance, and technology. The 103,629 square-foot upscale office space features: GEN 1 Signage

GEN 1 Grand Entrance

GEN 1 Lobby

GEN 1 Four-Level Parking Structure

•

Concrete Construction

•

Three Floors, Three Stairwells, Two Elevators

•

Partial Floor to Ceiling Glass

•

±15’ to ±18’ Floor to Deck Ceilings, ±10’ Finished Ceilings

•

5/1000 SF Parking Ratio in adjacent Multi-Level Parking Structure

•

Building and Monument Signage available

•

Convenient Access to Highways with three Full Diamond Interchanges nearby

•

Views overlooking Civic Park, Goodyear City Hall, and Georgia T. Lord Library

•

Growing shopping, dining, and entertainment district to include: Harkins Theatres, Cheddar’s Scratch Kitchen, BJ’s Restaurant & Brewhouse, Noodles & Company, and much more on the way including The Stillery!

Visit our Economic Development website developgoodyearaz.com

What’s That? Find out on our Development Map developgoodyearaz.com/get-connected/development-map

For business announcements visit our Biz Buzz page developgoodyearaz.com/get-connected/biz-buzz

Follow, Like, and Retweet our posts on Twitter @GoodyearAZecdev

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1900 N. Civic Square, Goodyear, AZ 85395 | 623-932-3025 | gyecdev@goodyearaz.gov