Expansion of Formation Park 10 in Goodyear: A Major Industrial Development Project

Formation Park 10 Expansion Breaks Ground

Formation Interests, in collaboration with Crescent Real Estate LLC, is excited to announce the commencement of construction for Phase II of Formation Park 10, an expansive 261,168 square foot development in Goodyear, Arizona. This follows the successful completion of Phase I and signifies a robust investment in the industrial landscape of West Phoenix.

Project Overview

The new phase will bring Formation Park 10's total industrial footprint to nearly 689,000 square feet spread over five buildings, situated on 44 acres. Conveniently located at the intersection of Bullard Avenue and Celebrate Life Way, it offers direct access to Interstate 10, enhancing its strategic importance for businesses.

Phase II is particularly noteworthy as it stands out in the West Phoenix area by catering not only to large enterprises that demand 100,000 square feet or more of single-tenant space but also to smaller businesses needing flexible spaces of 15,000 to 25,000 square feet. Mike Gilbert from FORMATION expressed enthusiasm about this project, highlighting the increasing demand for high-quality industrial space in the I-10 corridor, which currently has limited options for smaller businesses.

Design and Development

The design aligns with the offerings in Phase I, aiming to create a well-rounded, mixed-use business park that can accommodate a diverse range of occupants. The expansion is not only practical but visually appealing, with a leading-edge amenity park, which sets it apart from typical industrial parks. This unique approach reflects a growing trend in industrial development where functionality is complemented by community-centric spaces.

As Adam Herrin, CEO of FORMATION, stated, “This marks our third project in the Phoenix Metro area, and we couldn't be more thrilled with the opportunity this market presents.” Herrin noted the unexpected growth in Maricopa County, signifying confidence in the economic stability and expansion potential of the region.

Construction and Timeline

Phase II's architectural vision comes from Deutsch Architecture Group, with Kimley Horn and RVI also playing instrumental roles. The general contracting duties are handled by Willmeng, and leasing management is overseen by CBRE. The construction is projected to be completed by Spring 2027, marking another milestone in FORMATI0N's commitment to developing quality industrial environments in the Southwest.

Recognition and Impact

Formation Park 10 has already garnered attention and acclaim, receiving multiple award nominations for its unique design and pioneering amenities. This project exemplifies FORMATION's dedication to creating innovative, high-quality industrial spaces that foster business growth and community development.

With a portfolio boasting over $1.3 billion in new developments over the past seven years, Formation Interests continues to assert its presence in the competitive landscape of real estate development. This latest venture at Formation Park 10 illustrates their strategic focus on capitalizing on growth markets and the evolving needs of modern businesses.

For more information about FORMATION and its initiatives, visit Formation Interests.