Procter & Gamble Company Completed the acquisition of approximately 430 acres in Coolidge, Arizona for the development of new industrial real estate to support the consumer products company’s fabric care product portfolio. Phoenix Business Journal was recently reported. The land purchase comes just two months after the Arizona Department of Commerce announced that P&G would invest his $500 million to develop his 2 million square foot manufacturing facility in the suburban city of Phoenix. later.
Pinal County records show that P&G acquired the development site from the following companies: Pinal Land Holdings LLC in a deal worth approximately $53.4 million. The site is located in the 2,700-acre Inland Port Arizona Industrial Park, a rail-served megasite located near Highway 87 and Arica Road, approximately 60 miles south of Phoenix. The Metropolitan Phoenix site selected by P&G is the current Trends in industrial demandAccording to a JLL report, the Greater Phoenix area leads the nation in industrial demand, with demand for industrial space expected to grow in 2021-22, in no small part due to the city’s growing population and proximity to the Port of Los Angeles. 56.6% jumped. There are factors such as Long Beach.
P&G’s Coolidge project is in its early stages. However, the company is making steady progress towards realizing the facility. On December 7, 2022, the Pinal County Board of Supervisors approved a public road construction and participation agreement between the county and the City of Coolidge to house P&G’s planned facility. If all goes according to plan, P&G will begin developing his manufacturing plant in late 2023.
growth spurt
P&G’s planned facility in Coolidge is the latest of several projects to add to the Cincinnati-based company’s industrial real estate footprint. In March 2022, his P&G plans to expand its Greensboro, North Carolina facility by an additional 80,000 square feet were announced with a $110 million investment. And just two months later, he revealed in May 2022 that P&G would build his 1 million-square-foot automation facility in Jackson, Georgia, for $205 million.
As of June 30, 2022, P&G’s portfolio of owned and operated manufacturing facilities includes 23 facilities across 17 U.S. states, plus 81 facilities in 35 other countries, according to the company’s fiscal 2022 report. There is P&G expects the Coolidge site to be open and operational in 2025.
