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incoln Property Co., a global real estate developer, has acquired a 16.25-acre industrial property in Tempe, Arizona, just minutes away from Sky Harbor International Airport. The company plans to demolish the existing single-story building at 1515 W. 14th Street and transform it into a high-end industrial campus called Sky Harbor Logistics.

    The new project will feature two identical 127,000 square-foot buildings with a shared truck court, totaling 254,000 square feet of space. The property will have a 32-foot clearance height for product storage, 46-foot-high docks with 28 drive-in doors, and upgraded sprinklers and clerestory windows for better natural lighting.

    CarMax currently leases part of the building, but its lease is set to expire soon. Lincoln plans to start construction on Sky Harbor Logistics in the second quarter of 2025. The project will sit near Arizona State University's main campus and benefit from downtown Tempe's shopping and dining scene.

    "This is a true infill location," said John Orsak, Lincoln Senior Vice President. "By embracing this type of redevelopment at Sky Harbor Logistics, we're creating a path for new businesses, new jobs, and all types of new collaboration."