Hines Global REIT II to Buy Amazon-leased Warehouse Near Phoenix for $56.2 Million
Hines Global REIT II Inc., a publicly registered non-traded real estate investment trust, signed an agreement to purchase Goodyear Crossing II in the Phoenix suburb of Goodyear, Arizona for $56.2 million. The seller is RT GOODYEAR LLC.
Completed in 2009, Goodyear Crossing II is a class A industrial warehouse situated in the Goodyear Crossing Industrial Park. The 820,000-square-foot property is 100 percent leased to internet retailer Amazon.com under a lease that expires in September 2019.
The REIT funded a $1 million earnest money deposit in connection with the purchase agreement and expects the acquisition to close on August 23rd.
Hines Global REIT II focuses on investing in a diversified portfolio of commercial real estate properties in the United States and abroad. The company went effective in August 2014 and has raised $160 million in investor equity since inception. Since its last quarterly filing, the company owned three properties.
