International mattress manufacturer occupancy in the Valley nearly 2 MSF
This sizable lease will add to the company’s existing space in the Valley. During summer 2020, Healthcare Arizona LLC leased 643,798 square feet at First Park @ PV|303 in Goodyear. "It was a pleasure to once again work with MLILY and our local and international Colliers teams," said Yang Chen, Managing Director, Asia Pacific Division with Colliers in San Francisco. "MLILY stated that their goal is for all products sold in the U.S. market to be made domestically. This target necessitated urgent expansion of their manufacturing capabilities in Phoenix less than a year since their first transaction in the region. We found phenomenal partners in Hines and Oaktree Capital, who were part of our great team in finalizing a deal that bridged language, cultural, and time zone differences."
Healthcare Arizona, LLC leased what was planned as two separate buildings at the G303 project, but will now be constructed as a single structure. Phase I has been built and the company will take occupancy in December after interior tenant improvements are completed. The building, located at 6605 N. Sarival Avenue, contains 569,520 square feet of industrial space. Phase II will involve expanding that structure with an additional 683,862 square feet of space. Construction of that expansion is expected to commence this week. The company leased this project for a term exceeding 10 years.
“This lease at the G303 project will bring MLILY’s total commitment in the Valley to nearly 2 million square feet of space,” says Payson MacWilliam with Colliers in Arizona. “The company was originally attracted to our pro-business community and that appeal has only improved since the company entered the Arizona market last year. This rapid and substantial expansion is a testament to the company’s growing business throughout the world and our economy here in Greater Phoenix.”
Yang Chen from the Colliers office in San Francisco partnered with Payson MacWilliam, Don MacWilliam and Chris Reese of Colliers in Arizona in representing Healthcare Arizona, LLC in the lease negotiations. Bill Honsaker and John Lydon with JLL represented Hines, the developer of the project.
Healthcare Co. Ltd. operates factories in China, Thailand, Serbia and the United States. U.S. plants are located in South Carolina and Arizona. The company has produced memory foam items since 2003. The MLILY brand advocates “Redefining Sleep” and offers products including mattresses, mattress toppers, bases and pillows. By expanding its presence in the Greater Phoenix area, the company is able to provide more high quality products to U.S. consumers at a lower cost, while also expanding its global footprint.
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Colliers in Arizona has served clients locally and globally for more than 40 years.