Lake Washington Partners has completed the 427,000-square-foot expansion to the Coldwater Depot Logistics Center in Avondale, Ariz.
Located at 1100 North 127th Ave, the Class A logistics park has frontage along the I-10, 127th Avenue and Van Buren Street, in the heart of the Southwest Phoenix industrial market and is adjacent to the Avondale Commerce Center.
Lake Washington Partners purchased the 54-acre site from the Trammell Crow Co. and Clarion Partners in 2013, when the site already housed Phase I of the Coldwater Depot Logistics Center—a 603,863-square-foot distribution center, occupied by Conn’s Furniture. The master-planned three-phase development is designed to grow to 1.2 million square feet of Class A cross-dock distribution warehouse space. The newly completed expansion of Phase I, Coldwater Depot Logistics Center Phase II, amounts to an additional 328,445 square feet and makes for Avondale’s largest single building, at nearly 1 million square feet.
According to Lake Washington Partners, 175,000 square feet of the expanded distribution/warehouse space is still available for lease. Daniel Calihan, SVP with the Phoenix CBRE office, is currently marketing the space. The facility was the recipient of the 2016 TOBY Building Award for Industrial Office Parks.
President of Seattle-based Lake Washington Partners, Jordan Lott, stated “At Lake Washington Partners, we pride ourselves on developing quality buildings that we will own long term. We’re excited to showcase the second phase of this expansion project. Coldwater Depot is a Class-A building with great access to I-10 and the west Phoenix area.”
The 187,000-square-foot Coldwater Depot Logistics Center Phase III that was built in 2015 is still owned by TCC and Clarion Partners and is leased by The Vitamin Shoppe, Inc.
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