Lincoln, Harvard Break Ground on $360M Phase One of 7M s.f. Goodyear AirPark

GOODYEAR, Arizona, January 12, 2023 – Lincoln Property Company’s Southwest division, LPC Desert West, and Scottsdale-based Harvard Investments joined today with the City of Goodyear and project stakeholders to break ground on the Phase One of Goodyear AirPark.

Located on 565 acres adjacent to the Phoenix-Goodyear Airport in Goodyear, Arizona, the Class A industrial development at build-out will total 7 million square feet and up to 20 buildings, with access to enough data and fiber to power NASA.

Phase One of the project totals 1.6 million square feet in six buildings ranging from 81,000 to 775,000 square feet. Targeting mid- and large-scale users, the buildings will offer up to 40’ clear height, multiple points of ingress and egress, private truck courts and generous parking.

“The city of Goodyear is thrilled to see the growth and the investment in our community,” said Mayor Joe Pizzillo. “Lincoln Property Company and Harvard Investments have a solid track record for success and are known for their expertise and award-winning developments, which ultimately will bring high-quality jobs to our residents and more retail opportunities south of MC85.”

“Goodyear AirPark sits on one of the last remaining large, industrial-zoned land sites in Goodyear, which is the second-fastest growing city on our state and the ninth fastest growing city in the nation,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “We’re excited to partner with Harvard on yet another development project, where we can build to meet the needs of this growth.”

“The shovel-ready, infrastructure-ready condition of this site has given us tremendous speed-to-market,” added Harvard Investments President and CEO Craig Krumwiede. “There are so many industries seeking Class A industrial space in Phoenix and ready to generate well-paying jobs here, in sectors from logistics to data centers. This project will give them that opportunity.”

Goodyear AirPark sits directly south of Phoenix-Goodyear Airport, approximately three miles south of Interstate 10 and at the entrance to the 20,000-acre, award-winning Estrella Mountain Ranch master-planned community. It is also minutes from the Goodyear Ballpark, the spring training home for the Cincinnati Reds and Cleveland Guardians.

It is generally bounded by Estrella Parkway, Bullard Avenue and State Route MC 85, a high-volume east/west trucking route connecting Goodyear with Mexico.

The park also sits immediately adjacent to a dark fiber line, making it highly attractive for data center development. World-class global neighbors include Microsoft, Amazon, UPS, Walmart, Boeing, SubZero, Daimler-Benz, XPO Logistics, Red Bull and Aldi.

Cerberus Capital Management is the equity partner for LPC and Harvard on the project. The architect for Goodyear AirPark is Butler Design Group. The general contractor is Stevens-Leinweber Construction. LPC Desert West will direct all leasing and property management.

To discuss leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.

About Lincoln Property Company

Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset management services. LPC has approximately 8,500 employees with an international footprint that includes offices in 45 cities across the U.S. and 12 countries in Europe. Since 1965, LPC has developed more than 138 million square feet of office, industrial and retail projects known for their design, quality and superior locations. It currently has more than 433 million square feet of commercial space under leasing and/or management. Lincoln is also one of the nation’s largest apartment developers, having developed more than 209,000 multifamily units and currently managing more than 165,000 multifamily units.

LPC’s Desert West Region is based in Phoenix and includes Arizona, Nevada, Utah and New Mexico. Since its start in 2001, the regional office has developed over 15 million square feet, acquired more than 6 million square feet and manages almost 19 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. Since 2019, the company has completed two of the highest-priced metro Phoenix office and industrial transactions and launched the Union office campus in Mesa, new buildings at The Grand at Papago Park Center in Tempe and the Park303 logistics park in Glendale, among other developments. LPC Desert West is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, earning consecutive 2018, 2019 and 2020 NAIOP Arizona Owner/Developer of the Year awards and designation as an Arizona Republic Top Companies to Work for in Arizona. In 2020, the firm kicked off a regional expansion plan, entering the Nevada and Utah markets with Class A industrial acquisitions. To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcdesertwest.com.

About Harvard Investments

Harvard Investments, Inc. is a real estate investment and development company with real estate holdings throughout the western United States. Harvard combines experience, integrity, and financial stability to create high quality, environmentally sensitive, profitable communities. Harvard’s Canadian parent, the Hill Companies, is a privately held diversified company involved in real estate development including construction and leasing of commercial office buildings and retail properties, oil and gas production and distribution, broadcasting, surety bonding, and insurance. The Hill Companies have been under continuous family ownership and operation since 1903. To learn more visit http://www.harvardinvestments.com/.