September 20, 2016
Finnish company Huhtamaki, located in Los Angeles, will buy a 752,000-square-foot plant in Goodyear, AZ that once was Rubbermaid Inc.’s manufacturing and distribution operation. The asset at 4320 E. Cotton Lane will be sold for $43 million. The property is part of a 150-acre parcel owned by Cohen Asset Management Inc., based in Los Angeles.
Huhtamaki, which manufactures consumer goods packaging and products that are used in the food service industry, plans to invest more than $100 million to acquire and set the facility up as a distribution center. The rail-served property should be operational sometime early next year, and will employ up to 300.
Huhtamaki is represented by Rob Stephens of Newmark Grubb Knight Frank in Phoenix, and James Belcher of NGKF in Wayne, Pa. The seller is being guided by Pat Feeney, Dan Calihan and Rusty Kennedy of CBRE in Phoenix.
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