PHOENIX, June 27, 2024 – On behalf of Portland-based Schnitzer Properties, JLL today announced the start of construction on Palm Valley Commerce Center, a Class A industrial project designed to serve local entrepreneurs and multi-national corporations alike in the Phoenix metropolitan area.
Located at Auto Drive and 137th Avenue in the rapidly expanding Phoenix-Goodyear Airport submarket of Goodyear, Arizona, Palm Valley Commerce Center will provide highly divisible, leading-edge space for growing businesses.
Upon completion, the project will consist of three buildings totaling 294,840 square feet, offering divisibility ranging from 125,840 square feet to 4,680 square feet. This makes Palm Valley Commerce Center one of the most adaptable new industrial developments currently underway in the region.
“At Schnitzer Properties, we currently have 11 million square feet of industrial projects planned or under construction. We are excited to add Palm Valley Commerce Center in Goodyear to our portfolio,” said Jordan Schnitzer, President and CEO, Schnitzer Properties.
Now under construction with delivery expected in Q2 2025, Palm Valley Commerce Center Building A totals 125,840 square feet with 32’ clear height, 135’ truck court, 31 dock high and six grade level doors in a rear-load configuration, and 120 auto parking spaces. Building A is divisible to 22,000 square feet.
To expedite move-in, Building A will include comprehensive make ready improvements including LED lighting, warehouse HVAC, 12 pit levelers and 19 edge of dock levelers. It will also offer four completed speculative offices ranging from 1,800 square feet to 2,400 square feet.
Future construction at Palm Valley Commerce Center will include a 57,720-square-foot, front-loading Building B and an 11,280-square-foot, rear-loading Building C.
Building B will offer 22’ clear height, 64’–155’ truck courts, 17 dock high and nine grade level doors, and 102 auto parking spaces. Building C will offer 30’ clear height, 140’ truck court, 35 dock high and 11 grade level doors, and 185 auto parking spaces.
Building B will offer divisibility to 4,680 square feet and Building C to 5,720 square feet.
Willmeng Construction is the general contractor at Palm Valley Commerce Center. VLMK Engineering + Design is the architect.
Marc Hertzberg, Executive Managing Director, Riley Gilbert, Senior Managing Director, and Kelly Royle, Vice President, from the Phoenix office of JLL serve as the project’s exclusive leasing brokers.
“Palm Valley Commerce Center offers a highly attractive location, modern amenities and convenient access to a robust local workforce – all critical for a tenant’s seamless operational efficiency,” said Royle. “Combined with this project’s superior divisibility, these factors position Palm Valley Commerce Center as a very symbiotic industrial campus able to successfully support users of all types and sizes.”
Palm Valley Commerce Center is located one-half mile from a full diamond interchange at Interstate 10 and Litchfield Road. It sits approximately two miles from the Phoenix-Goodyear Airport, 21 miles from Sky Harbor International Airport. It is a four-and-a-half-hour drive to the Inland Empire and five-and-a-half-hour drive to the ports of Los Angeles and Long Beach.
According to JLL’s Q1 2024 Phoenix Industrial Report, demand continues to push metro Phoenix industrial rent growth, with rents rising 2.4% quarter-over-quarter in a market where nearly 40% of newly delivered product is already pre-committed. Metro Phoenix recorded 2.9 million square feet of net industrial absorption during Q1 2024, with tenants expected to take occupancy on an additional 4 million square feet of newly leased space in Q2 2024.
In Phoenix, JLL is a market leader employing more than 550 of the region’s most recognized industry experts offering office, industrial, retail, healthcare and data center brokerage, tenant representation, facility and investment management, capital markets, multifamily investments and development services, and related services within the real estate leasing, investment and management process. In 2023, the Phoenix team completed more than 120 million square feet in lease and sale transactions, with a total transaction volume of more than $1.1 billion, and directed $67 million in project management across 63 projects.
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