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October 23, 2018
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Phoenix Distribution Facility Sells for $98 Mil

10/05/18

Buckeye Logistics Center, a 1 msf distribution center in Phoenix, was acquired by an unnamed, international buyer for $98.3 mil. The property was sold by a partnership between The Koll Company and Seera Investment Bank B.S.C.(c), a private equity firm based in the Kingdom of Bahrain with investments across global markets.

Built in 2007, the facility, located at 6835 W. Buckeye Rd, initially totaled 604.7k sf in size. The Koll Company acquired the warehouse/distribution facility in 2016 for $74.75 mil. The property is fully leased to Amazon, who recently expanded the property in size to accommodate their growing clothing and soft goods inventory.

The Koll Company, with Mark Detmer and Bo Mills of JLL, worked extensively with Amazon in converting the building use and extending Amazonís lease term for 10+ years. In addition, The Koll Company cooperated with Amazon in their acquisition of an adjacent parcel for additional truck trailer storage.




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