In a move primed to supercharge the West Valley's job market, the Dallas-rooted TriColor Auto Group is setting up shop with a swanky new 258,000-square-foot warehouse in Surprise, Arizona, as reported by the ABC15 Arizona. This bold expansion by the online auto sales and financing powerhouse promises to dish out an impressive 500 new jobs, making it the latest corporation to hitch its wagon to the Valley's booming economic star.
The new beast of a building will squat at the northwest corner of Cactus Road and Summit Way, joining the ranks of the city's burgeoning railplex and is scheduled to be ready for action by summer 2024, the first phase of TriColor's rollout is on track to roll out 200 jobs and when it's running at full throttle, the facility aims to stockpile a workforce of 500. The site will be the brains behind the company's vehicle inspection, refurbishing, storage, and distribution operations, ensuring that TriColor's wheels keep turning smoothly across the Southwest.
Chalking up as BlueScope Properties Group's inaugural Arizona venture, the soon-to-be warehouse pivoted from speculative to build-to-suit when TriColor signed on, putting pen to paper in mid-2023, as gleaned from a Phoenix Business Journal piece. The Missouri-based developer, having snagged the 26-acre plot back in 2021 for a cool $8.2 million according to the real estate database Vizzda, harbored aspirations for the Arizona industrial circuit well before the pandemic made such ventures hot property.
Swathed in features that make gearheads drool, like a 32-foot clear ceiling, a dough-load of dock doors, and a speeding bay, not to mention the sparking 3,000 amps of power and up to 1,000 stacked parking slots, the facility stands as a testament to Arizona's magnetism for big biz. "The developer's ability to deliver modern new industrial space, combined with this site's ability to accommodate heavy auto parking, was the perfect combination, especially considering the high-demand characteristics of the metro Phoenix industrial market," John Lydon of JLL in Phoenix, part of the leasing team behind the deal, articulated why this deal was such a coup.
TriColor Auto Group's Southwest spread smears across New Mexico, Nevada, and Texas with a tight grip on the Phoenix and Mesa market, touting 50 retail dealerships across 20 markets shared with their sister outfit, Ganas Auto Group, alongside a support hub jauntily sited in Guadalajara, Mexico. Together, they've thrown open their doors to over 90,000 customers and flung nearly $2 billion in the auto loan arena, the company boasts. The shiny new Surprise location also rubs elbows with a 150-acre property sold off last year by Carvana Co. to Merit Partners, marking a significant shuffle of the Valley's industrial chessboard.
