By Commercial Property Executive | AZ Big Media
GTIS Partners has formed a joint venture with Baker Development Corp. and Foundation Capital Partners to build Yuma 143, a logistics center located within a Qualified Opportunity Zone in Goodyear.
The Yuma 143 development marks GTIS’ 13th investment in the Phoenix area over the past decade. The $45 million project will comprise 490,000 square feet.
“The project’s location on the west side of Phoenix and strategically located adjacent to the Goodyear cargo airport enables us to serve both the fast-growing Phoenix MSA from a consumer/E-commerce perspective as well as distribute as far west as the LA metropolitan market,” Josh Pristaw, senior managing director, head of Capital Markets & co-head of Brazil for GTIS Partners, told Commercial Property Executive.