A recent sale of two pieces of land 2 miles apart along Southern Avenue in Buckeye will see the construction of new warehouse-type buildings.
Dylan Sproul of SVN Desert Commercial Advisors, which helped facilitate the sales, said a joint venture recently purchased 77 acres on the southeast corner of Apache Road and Southern Avenue. The venture also purchased 54 acres on the southeast corner of Rainbow Road and Southern Avenue.
“There is so much happening in Buckeye and other parts of the Southwest Valley,” Sproul said. “We’re happy to be part of that. This will bring jobs to the area.”
A pair of California-based real estate investment and development firms have teamed to form a joint venture called Buckeye 54 LLC. The firms are Contour Real Estate and Shopoff Realty Investments.
The joint venture bought the 54 acres at Southern and Rainbow from KWC Motorsports LLC, for $6.25 million. The 77-acre property at Southern and Apache is set to close soon in a sale from the Napolitano family.
The 54-acre property is within the Buckeye Rail Corridor. Buckeye 54 plans to build a logistics park encompassing two warehouses totaling more than 900,000 square feet.
The deal had been in escrow for seven months as Contour worked through infrastructure issues with the city of Buckeye, Sproul said.
The 54 acres are within the Buckeye rail corridor, so all shipping involving the finished facility wouldn’t necessarily need to involve trucking.
The city’s rail corridor is not defined by specific boundaries but is mentioned in a few city policies that attempt to keep land adjacent to the Union Pacific Railroad available for light and general industrial employment uses.
The acreage located next to the Thatcher Co. of Arizona, a steel plant and a distribution facility.
The single structure to be built at Southern and Apache will be used for warehousing and manufacturing and is projected to be about 1.2 million square feet.
That’s located near The Odyssey Preparatory Academy, Cardinal Glass, the Walmart Distribution Center and some built-out and planned residential communities.
SVN CEO David Daneshforooz said he anticipates “explosive growth over the next decade” in the Southwest Valley.
Sproul said he anticipates the joint venture will break ground on the Apache site sometime in the second quarter of this year, or by the end of June.
The Rainbow site could break ground in the late second quarter or early third quarter of this year, meaning June, July or early August.
Jason W. Brooks is a News editor for the Daily Independent and the Chandler Independent.
He covers the Chandler area for both yourvalley.net and the monthly print edition while writing for and assisting in the production of the Daily Independent.
Brooks is a well-traveled journalist who has documented life in small American communities in nearly all U.S. time zones.
Born in Washington, D.C. and raised there and in suburban Los Angeles, he has covered community news in California, New Mexico, Arkansas, Iowa, Nebraska and northern Arizona.
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