GTI Fabrication, a Buffalo, N.Y.,-based supplier of turnkey built-in closure options, is increasing its power storage enterprise within the Phoenix industrial market with the full-building lease of a 530,307-square-foot facility at Lakin Park in Goodyear, Ariz.
GTI will use the not too long ago accomplished constructing at 17505 W. MC 85 within the 400-acre master-planned logistics campus for mild manufacturing and battery casings meeting.
The corporate, which operates below GTI Vitality in Phoenix, already leases 80,000 sq. ft at 3380 W. Durango St. in Phoenix. That facility, which opened in Could 2023, is devoted to advancing electrical/mechanical meeting, battery set up and rigorous testing for Battery Vitality Storage Techniques items, in accordance with the GTI LinkedIn web page.
A Cushman & Wakefield group represented each the owner and the tenant within the six-year leasing deal. The group included Government Vice Chairs Andy Markham and Mike Haenel, Vice Chair Phil Haenel, Director Foster Bundy, Associates Katie Repine and Justin Smith and Brokerage Coordinator Jordan Sims.
GTI selected the Lakin Park constructing due to its current energy and air con, workplace area, speedy availability and proximity to the West Coast, in accordance with the Phoenix Enterprise Journal.
Property highlights
The Lakin Park facility is situated on a 35.5-acre lot. The cross-dock constructing has 40-foot clear top, 88 dock excessive doorways, 4 drive-in doorways, 70-foot pace bays, 119 trailer stalls, 380 automotive stalls, and 200-foot concrete courts. The builders acquired a $34.6 million three-year building mortgage from Outdated Nationwide Financial institution in November 2022, in accordance with CommercialEdge information.
READ ALSO: Why Mild Industrial Properties Will Proceed to Shine
Lakin Park, situated at Cotton Lane and MC 85, is being developed by Clarius Companions and Walton Avenue Capital. The economic park, which could have 4.5 million sq. ft of area when constructed out, is 3 miles south of Interstate 10. It is going to even have frontage and entry to the long run Loop 303 and State Route 30.
Constructing 1B is the second asset accomplished at Lakin Park. The 730,000-square-foot Constructing 1A was leased by Qurate Retail Inc. in 2022, the enterprise journal reported. The builders offered 1A, situated at 17315 W. MC 85, in August 2022 to BentallGreenOak, the actual property arm of Solar Life Monetary, for $109.2 million.
Clear power progress
Clear power and local weather expertise options corporations are rising within the Phoenix area, together with Kore Energy, which is setting up a $1.25 billion battery plant in Buckeye, Ariz., and LG Vitality Answer, which is constructing a $5.5 billion battery manufacturing complicated in Queen Creek, Ariz. The LGES mission contains two separate manufacturing amenities—one for cylindrical batteries for electrical autos and one other for lithium iron phosphate (LFP) pouch-type batteries for power storage methods (ESS). The EV facility is slated for completion in late 2025 and the LFP facility is anticipated to be completed the next yr.
LGES is one in all GTI Vitality’s purchasers, together with Confluence Vitality and Honeywell Worldwide Inc., in accordance with the enterprise journal.
The federal Inflation Discount Act is credited with spurring greater than $10.6 billion in clear power investments in Arizona and creating greater than 14,100 new clear power jobs.
