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Arizona Industrial Dev Site Goes for $6.5 Mil

12/23/21

A 54-acre industrial development site in Buckeye, AZ, at the southeast corner of Southern Ave and Rainbow Rd, within the Buckeye Rail Corridor, traded hands for $6.525 mil. The buyer was Buckeye 54 LLC, a Joint Venture formed by Contour Real Estate and Shopoff Realty Investments, both California-based real estate investment and development firms.

The joint venture plans to build a logistics park encompassing two warehouses totaling 900k sf. The deal had been in escrow for seven months as Contour worked through infrastructure issues with the City of Buckeye. Additionally, Contour Real Estate, has 77 acres in Buckeye closing this year for another large warehouse & manufacturing project totaling 1.2 msf.

Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors negotiated the transaction on behalf of the buyer. The property was sold by KWC Motorsports LLC.




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