Lincoln Logistics 40, Goodyear, AZ

August 20, 2019 Comments Off on Nike Buys 900K-SF Lincoln Logistics 40, Pays $70M Views: 1324 National News, Phoenix & Southwest News, Southwest

Nike Buys 900K-SF Lincoln Logistics 40, Pays $70M

Order Reprints...

Nike Inc. paid $69.8 million to a joint venture consisting of Lincoln Property Co. and Goldman Sachs Group Inc., for ownership rights to a 901,700-square-foot industrial facility in Goodyear, AZ. The sportswear manufacturing giant will use the facility, known as Lincoln Logistics 40, to produce the mid-sole cushioning portion of its athletic shoes.

John Werstler, Cooper Fratt and Rusty Kennedy with CBRE represented the seller; John Grady and Jackie Orcutt also with CBRE, negotiated on behalf of Nike. LPC and Goldman Sachs developed the speculative property, situated on close to 50 acres at 575 S. 143rd Ave., which was completed in late 2018.

The city of Goodyear, west of Phoenix, agreed to provide Nike with roughly $2 million in incentives, in the form of job-creation funding and waiving of review and permit fees for phase one. Nike intends to invest a minimum of $184.5 million in tenant improvements and capital equipment.

Read more at Business Real Estate Weekly

Connect With Lincoln Property Co.

Connect With CBRE’s Phoenix Office

Subscribe to Connect Daily National

For comments, questions or concerns, please contact Amy Sorter

Tags: ,

Comments are closed.

Send this to a friend