PRESS RELEASE: Lincoln Property Company Sees Potential; Continues Phoenix Industrial Push With Second Major West Valley Business Park

PHOENIX – Just two weeks after unveiling its plans to develop a major new business park in Goodyear, Ariz., Lincoln Property Company(LPC) has announced another new business park project, 10 Lincoln.

10 Lincoln will total more than 1 million square feet on 72 acres. The development consists of five buildings ranging in size from 500,000 square feet to 80,000 square feet, with anticipated uses of distribution, e-commerce, manufacturing assembly and retail.

Together with LPC’s just-announced Goodyear AirPark, the firm now offers approximately 340 acres of active West Valley industrial opportunities, with the potential to bring more than 5,000 new jobs to the Phoenix market.

“Phoenix’s West Valley submarkets are becoming increasingly well known as convenient, cost effective sites for some of the nation’s largest distribution and e-commerce firms,” said Lincoln Property Company’s Executive Vice President, David Krumwiede. “We expect this demand to only continue, and will approach these new business parks accordingly. Ultimately, we see both as multi-year projects—ones that will allow us to offer local and national clients with the best shovel-ready land in the Southwest.”

10 Lincoln is located at 83rd Avenue in Phoenix, directly fronted by Interstate 10 to the north and bordered by Van Buren Street to the south. The project is Foreign Trade Zone capable, offering the potential for a 75 percent reduction in real and personal (equipment) property tax. Immediate corporate neighbors include Amazon, PetSmart, Cardinal Health, Target, Bose, Home Depot, Costco, Living Spaces and Sysco. Butler Design group has provided the project site plans. The site sits at a full diamond interchange.

“This is one of the West Valley’s last close-in, still undeveloped industrial parcels,” said Jones Lang LaSalle Managing DirectorMarc Hertzberg, who along with Jones Lang LaSalle Managing Director Anthony J. Lydonserve as the exclusive marketing coordinators for the project. “It is surrounded by established commercial and residential development, giving incoming companies a built-in employment and amenities base, and allowing 10 Lincoln to immediately begin serving and employing those who live and work nearby.”

The announcement of 10 Lincoln falls just two weeks after plans were unveiled for Goodyear AirPark, a 267-acre business park located just south of the southwest corner of Litchfield Road and the newly widened Highway 85, and directly south of the Goodyear Airport. LPC is the exclusive developer for the project, which is a joint venture with Carefree Partners Investments.

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. Founded in 1965, LPC has approximately 6,200 employees and maintains a presence in more than 200 municipalities in the United States and three countries throughout Europe. The company has developed more than 126 million square feet of office, industrial and retail projects, and 182,000 multi-family units. Property management assignments currently include more than 148 million square feet of commercial space and 146 million square feet of residential property. Acquisition activities exceed $4.0 billion in commercial properties and $3.5 billion in residential properties. LPC's Desert West Region, which includes Arizona, Nevada, Utah and New Mexico, is based in Phoenix and has been operating since 2001. In that time, the regional office has developed 2.7 million square feet, acquired 3.7 million square feet and manages approximately 6 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. LPC is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management. For more information, visit www.lpc.comor



Stacey Hershauer, focusAZ


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