AZBigMedia
New York-based Foundation Capital Partners (FCP) and Chicago-based Baker Development Corporation (BDC) have broken ground on a two-building, Class A industrial project called VB/143. Located in the heart of Goodyear, Arizona, the project sits within a foreign trade zone magnet site, allowing for reduced real and personal property taxes and reduced or eliminated duty, tariff and U.S. customs reporting costs.
The joint venture has named JLL Managing Directors Anthony Lydon and Marc Hertzberg, and Vice President Riley Gilbert, as the project’s exclusive leasing brokers.
“We are excited to have picked the Southwest Valley and Goodyear, in particular, as our foray into the greater Phoenix industrial market,” said Daniel J. Slack, Principal with BDC. “The business-friendly environment propagated by the City of Goodyear and the Greater Phoenix Economic Council, coupled with a continued market momentum characterized by a flight to quality from companies fleeing neighboring states, was hard to ignore.”
