DIV Industrial has acquired 47.4 acres of land in Goodyear, Ariz., for the development of Sarival Business Park, an industrial campus that is set to measure 848,000 square feet. Groundbreaking is scheduled for the first quarter of 2024, with completion expected by 2025.

The deal marks DIV’s entry in the Phoenix market. The developer purchased the land from a private seller for $9 million, public records show, with Lee & Associates representing both parties. Silverback Capital Partners provided $6 million in financing, while the seller financed the transaction with a $1 million carry-back loan, the same records show.

The Lee & Associates team included Principals Stein Koss and Tom Louer. The duo will also lead the marketing efforts for the property.

The industrial campus is planned to encompass five buildings that will range between 135,000 and 235,000 square feet. Each building will feature 3,600 amps of power, two drive-in doors, ESFR sprinkler systems, as well as office space. A total of 734 car parking spaces and 82 trailer spots will be available.

All facilities will be developed to meet LEED certification. The first three buildings will comprise 24 dock-high loading doors, 135-foot truck courts and 32-foot clear heights. Building 4 will include 22 dock doors with 36-foot clear heights and 135-foot truck courts, while Building 5 is set to feature 34 loading doors, 36-foot clear heights and 240-foot truck courts.

The Class A campus will rise at the intersection of Sarival Avenue and MC-85, south of Interstate 10 and roughly 4 miles from Phoenix-Goodyear Airport. Downtown Phoenix and downtown Glendale, Ariz., are some 23 miles northeast.

In January, DIV Industrial announced plans for El Dorado Valley Logistics Center, a 1.7 million-square-foot industrial campus in Henderson, Nev. Considered the largest industrial asset in the submarket, the property will comprise two buildings ranging between 600,000 and 1 million square feet.

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The DIV Industrial project, according to documents submitted to the city, is set to include five industrial buildings totaling nearly 900,000 square feet.

The buildings will range in size from 134,940 square feet to nearly 300,000 square feet with a mix of warehouse and office space. Just north of the site, other major industrial users are located along Elwood Street and Cotton Lane such as Anderson Corp., Blue Buffalo and Macy's.

It will also be located just north of the future State Route 30, a reliever freeway south of Interstate 10 that could eventually connect the Loop 303 to the Loop 202 in Phoenix.

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Irvine, California-based DIV Industrial has purchased nearly 50 acres in Goodyear — the company's first acquisition in the Valley — for the planned Sarival Business Park.

The project will comprise 847,988 square feet across five industrial buildings ranging from 135,000 square feet to 235,000 square feet. It will be developed at the southeast corner of Sarival Avenue and the MC 85 highway on a site that was recently rezoned by Goodyear City Council.

“Sarival Business Park will offer superior optionality for leading suppliers, distributors and manufacturing tenants serving the Phoenix MSA,” said Jessica Quesada, co-founder and managing partner at DIV Industrial, in a statement. “The park is setting a new, higher standard for industrial product in Goodyear.”

Construction is expected to start on the facility, which will be a LEED certified business park, in Q1 2024 with delivery expected to occur at the start of 2025. DIV Industrial will also be looking to sell individual buildings to potential owner-users once the park is built out.

Each building will provide 3,600 amps of power with opportunity for expansion, two oversized grade level doors, up to 34 dock high doors and office space. The first three buildings will have 32-foot clear height while the last two will provide 36-foot clear height. All buildings will also include fully air-conditioned warehouse space and ESFR sprinklers.

Stein Koss and Tom Louer of Lee & Associates represented DIV Industrial and the seller in the acquisition and will handle marketing for the Sarival Business Park.

Just north of the site, other major industrial users along Elwood Street and Cotton Lane include Anderson Corp., Blue Buffalo and Macy's.

Sarival Business Park will mark the second development for DIV Industrial, which is also developing a 1.7 million-square-foot industrial park in the Las Vegas area.

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