Newmark Grubb Knight Frank (NGKF) announces global food packaging specialist headquartered in Finland, Huhtamaki North America, has committed to the acquisition of the 750,000-square-foot rail-served manufacturing and distribution facility in Cotton Lane Commerce Park, Goodyear, Ariz.
NGKF’s Jim Belcher and Robert Stephens represent Huhtamaki.
“Cotton Lane Commerce Park is a superb location for Huhtamaki’s new facility, offering rail service and excellent access to the region and Southern California via I-10 and I-8,” remarked Robert Stephens, managing director at NGKF. “Arizona’s attraction for advanced manufacturing companies remains high, as the area’s high-quality talent pool, modern infrastructure, low cost of living and optimally positioned geographic location competes well with other major metropolitan areas.” Goodyear is located just 19 miles west of Phoenix and within one day delivery of major markets in southern California and other western locations.
Huhtamaki has indicated its intent to exceed $100 million in capital investment at the site, with the goal of building a “21st century work environment.” The new facility will serve west coast foodservice packaging and retail tableware markets, producing paper cups, pressed paperboard plates and thermoformed plastic cups and lids, and bringing approximately 300 new jobs to the region. Construction of infrastructure at the 102-acre site is expected to begin in the second quarter of 2017, with commercial production scheduled to begin in late 2017.