PV|303 Master-Planned Business Park
April 26, 2016 |
Chief Operating Officer, Sunbelt Holdings
When ADOT began construction of the Loop 303 freeway, there was optimism around the positive impact the multi-level interchange linking Interstate 10 and the Loop 303 would have on economic development in the Valley. With its completion in 2014, the interchange has emerged as the gateway to one of the newest major development zones in the metro area, offering companies access to strategically located, shovel-ready sites.
Central to the emerging commercial business hub is PV|303, a 1,600-acre commercial park, which sits at the confluence of I-10 and Loop 303 in Goodyear. The master planned business park is designed to meet the growing demand for commercial and industrial opportunities in metro-Phoenix, and at build-out PV|303 will offer 20 million square feet of office, retail and industrial space.
PV|303’s highly visible presence along the I-10 corridor offers companies everything they are looking for: high profile location; shovel-ready sites; infrastructure; incentives; deep, highly-qualified labor pools; unmatched amenities; and – maybe most important – business-friendly policies at both the state and local levels.
A Foreign Trade Zone designated site (#277), the park is strategically situated to serve Arizona and key markets in the western U.S. like the Ports of Long Beach; Los Angeles and San Diego, Calif.; El Paso, Texas; and Las Vegas, Nev. The Loop 303 provides a high-speed route into and out of the area, bypassing metro area traffic congestion, making it an ideal location for companies that transport large volumes of merchandise intra- and inter-state.
Major corporate users are already taking advantage of all PV|303 has to offer. The park is currently home to a 500,000-sq.-ft. SubZero manufacturing and distribution facility as well as a 600,000-sq.-ft. Dicks Sporting Goods’ western United States Distribution Center. SubZero has had such success with their facility, the company recently kicked off construction of a 250,000-sq.-ft. expansion of their existing footprint.
In summer 2015, REI purchased 34 acres within the park. Shortly after, the internationally recognized recreation retailer began construction on a 400,000-sq.-ft. state-of-the-art distribution facility that will service the western U.S. The property was recently completed and will be fully operational by August 2016.
These facilities, operated by world-renowned brands, are a boon to the economic health of the Valley. PV|303 corporate tenants have created hundreds of jobs for Goodyear and the surrounding communities, and as the master planned business park grows, so too do the opportunities for employees and the communities they live in.
Most recently, Chicago-based First Industrial Realty Trust, Inc. purchased a 78.3-acre land site within the PV|303 business park and plans to develop approximately one million square feet of state-of-the-art industrial product. This project is scheduled to break ground before summer 2016 and will attract major users looking for build-to-suit facilities.
With continued growth and expansion across the metropolitan Phoenix market, the PV|303 Master Planned Business Park is poised to serve as the next great employment corridor in Arizona. For more detailed information about PV|303, hear Nicholaus Fischer on May 27th at the Commercial 360° seminar hosted by the Arizona School of Real Estate & Business and visit www.PV303.com.
Sean has been the Chief Operating Officer of Sunbelt Holdings, Inc. since 2009. Sean is a member of the American Society of Civil Engineers, Arizona Registrar of Contractors, the Homebuilders Association of Central Arizona and the Community Advisory Council for Chandler-Gilbert Community College. Sean can be reached at email@example.com or at 480-609-2302.
Commercial 360° Seminar
FRIDAY, MAY 27, 2016 – 9:00 AM TO 12:30 PM
This seminar is for anyone wanting to learn about growth and development in Arizona.
Learn from industry leaders regarding Arizona and Salt River Pima economic development, land availability, trust land funds, energy and water plans as well as a current market update – hear how all these factors effect the state’s growth and the real estate industry. Tempe Mayor Mark Mitchell will also provide some detail on how projects in Tempe are creating a positive influence for the state of Arizona.
Credit: 3 hrs. Legal Issues