A $6.5 million land transfer of 54-acres in Buckeye will be the site of a planned industrial park on the southeast corner of Southern Avenue and Rainbow Road.
The property was purchased from KWC Motorsports LLC to Buckeye 54 LLC, a joint venture of Contour Real Estate and Shopoff Realty Investments, which are both California-based firms.
The companies are planning to build a “logistics park” that will house two warehouses totaling 900,000 square feet.
The deal has been in escrow for seven months “as Contour worked through infrastructure issues with the city of Buckeye,” according to an announcement by Contour.
“We are excited to be a part of the explosive growth in the Southwest Valley, which we are confident will continue over the next decade as more and more development continues in the area,” said CEO of Contour David Daneshforooz.
The future industrial park is adjacent to the Union Pacific Rail Line and in proximity to both Interstate 10 and Interstate 85.
“The Phoenix West market is a prime location for industrial development,” said Shopoff President and CEO, William Shopoff. “With an influx of e-commerce and logistics firms moving into this area in recent years the demand for industrial space continues to grow, and we believe we are well positioned for a successful development.”
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