Peoria's industrial scene is bustling with activity as major brands plant flags in the expanding logistics parks of the West Valley. Frito Lay, the snack titan, and Trader Joe's, the beloved grocery chain, have settled into the Peoria Logistics Park, a new hub at 75th and Northern avenues. According to the Phoenix Business Journal, VanTrust Real Estate sold 16 acres to Trader Joe's for their 155,000-square-foot cold storage distribution center, while Frito Lay's distribution facility further cements the park's reputation.
Just a stone's throw from the bustling developments at Peoria Logistics Park, the Cactus 101 Business Park is also growing, recently filling up two of its structures. Clopay Corp and LD Products Inc. have inked deals for nearly 100,000-square-feet combined, as the Phoenix Business Journal reported. While the printer ink giant LD Products snagged a full building for their metro Phoenix expansion, Clopay, a noted garage door manufacturer, will roll up its first Arizona distribution center in the business park.
As the Peoria Logistics Park thrives, VanTrust doesn't sit still, going forth with two additional speculative industrial buildings within its premises, boasting 210,000 square feet in total. Jenna Borcherding, VanTrust's senior director of development, noted that these could morph into build-to-suit projects, saying, "It could easily turn into a build-to-suit based on the activity we have." She acknowledged the park's success to their ability to tailor to tenant's needs decidedly.
This industrial influx is not unique to the logistics parks, as the region has also welcomed Amkor's hefty $2 billion semiconductor packaging and testing facility, with plans to add 2,000 jobs to the Peoria economy. Hopewell Development, a Canada-based firm, has not lagged behind, securing two leases for its recent 232,881 square-foot Cactus 101 Business Park venture, leaving the largest building still on the table for the taking.
As these milestones indicate a robust demand for industrial space, it's clear that Peoria is shaping up to be a strategic pivot in the Greater Phoenix region's logistical landscape. These parks are not just facilities; they're a statement of economic growth and the evidence of a logistical metamorphosis taking place in the heart of the desert.
