(Disclosure: Rose Law Group represents Saint Holdings, the landowner in the deal.)
By Audrey Jensen | Phoenix Business Journal
Procter & Gamble Co. (NYSE: PG) recently closed on a 430-acre site and is moving forward with its 2 million-square-foot manufacturing plant south of Phoenix.
The consumer goods company purchased the property at the Inland Port Arizona industrial park in Coolidge for $53.4 million in all cash in January, according to Pinal County records.
It acquired the site from Pinal Land Holdings LLC, an entity connected to the master developer of the park, Saint Holdings, for about $125,134 per acre.
The new $500 million factory will be developed at the 2,700-acre industrial park adjacent to Nikola Corp.’s auto campus and manufacture products for P&G’s fabric care brands such as Tide PODS, Downy Unstopables and Bounce Dryer Sheets.
A P&G spokesperson said in an email that the company is on schedule to break ground on the factory in 2023 with startup slated for late 2025. The company also said it’s still in the process of site design and selection of partners such as general contractors.
