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1/19/22
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A Contour Real Estate entity has acquired a 77-acre industrial development site in Buckeye, AZ in a recent $14.5 mil transaction. The property, located at the southeast corner of Apache Rd and Southern Ave Rd, adjacent to the Cardinal Glass and Walmart distribution facilities, was sold by the Napolitano Family.
Contour plans to develop a 1.2 msf, Class A cross dock facility targeting ecommerce and logistics related tenants in need of a regional distribution hub. The Buckeye project is the last of three 4th quarter land acquisitions in 2021 bringing their Arizona industrial pipeline to over 3.6 msf. The deal had been in escrow for twelve months as Contour worked through approvals and infrastructure issues with the City of Buckeye. Ware Malcomb is the architect and civil engineer on the project.
The City of Buckeye has been one of the fastest growing cities in the country for several consecutive years. With major announcements of Kore Power, Five Below, and Funko Toys in the recent months the city has become a hotbed for big box industrial tenants fleeing the Inland Empire due to increases in operational costs of that market.
Paul Borgesen and Dylan Sproul of SVN Desert Commercial Advisors repped the buyer in the deal.
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