CIM Group Sells Goodyear Airport Portfolio, Two Fully Leased Industrial Buildings in Goodyear, AZ

PHOENIX--(BUSINESS WIRE)--CIM Group announced today the sale of the Goodyear Airport portfolio which is comprised of two, fully leased industrial buildings totaling 726,802 square feet located at 2250 S. Litchfield Road and 1685 S. Litchfield Road, adjacent to the Phoenix Goodyear Airport in Arizona.

CIM Group acquired the 450,619-square-foot building at 2250 S. Litchfield Road in August 2021. The building was newly constructed offering a modern crossdock industrial facility featuring 36-foot clear heights, 73 dock-high doors, 190-foot truck courts, and ample car and trailer parking on a 29-acre site. The building was leased to NPSG Global, a national third-party logistics provider, and Meyer Burger Technology AG, a leading manufacturer of high-performance photovoltaic cells and modules (“Meyer Burger”).

CIM Group acquired the neighboring 276,183-square-foot building at 1685 S. Litchfield Road upon its completion in December 2021. The building is a state-of-the-art rear load industrial facility that offers 36-foot clear heights, 48 dock-high doors, and ample car and trailer parking that is 100 percent leased to Meyer Burger. The Property will be home to Meyer Burger’s first solar module production facility outside of Europe.

The Goodyear Airport properties in Phoenix’s southwest valley are located in a designated Foreign Trade Zone and offer proximity to the I-10 freeway and a direct connection to the Ports of Los Angeles and Long Beach, Loop 303, Union Pacific Railroad, and Sky Harbor International Airport.

About CIM Group

CIM is a community-focused real estate and infrastructure owner, operator, lender and developer. Since 1994, CIM has sought to create value in projects and positively impact the lives of people in communities across the Americas by delivering more than $60 billion of essential real estate and infrastructure projects. CIM’s diverse team of experts applies its broad knowledge and disciplined approach through hands-on management of real assets from due diligence to operations through disposition. CIM strives to make a meaningful difference in the world by executing key environmental, social and governance (ESG) initiatives and enhancing each community in which it invests. For more information, visit www.cimgroup.com.