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8/14/24
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KV Buckeye 10, a new 249.6k sf industrial complex in Buckeye, AZ was purchased by MDH Partners LLC in a $51 mil ($204/sf) transaction. The project is 60% leased.
KV Buckeye 10, completed in August 2023, is situated on an 18.7-acre in Buckeye, Arizona, which has been ranked as the fastest-growing city in the U.S. over the past five years. The project consists of two buildings: one spanning 115.2k sf and the other covering 134.3k sf. The project was designed to seamlessly accommodate tenants of various sizes, from mid-bay to large enterprises, with optimal efficiency. Additionally, the project is the only existing Class A industrial project in Buckeye with spaces available below 50k sf.
Strategically positioned off the I-10 Fwy and Verrado Way, KV Buckeye 10 offers unparalleled access to the West Valley. Tenants benefit from high visibility along the I-10 Freeway, with convenient proximity to the Inland Empire, the Ports of Los Angeles and Long Beach, all within a travel time of 4.5 to 5.5 hours.
Greer Oliver and Connor Nebeker-Hay with JLL represented the seller, Kentwood Ventures. John Lydon, Hagen Hyatt and Kelly Royle, also with JLL, were retained by MDH to continue serving as the project’s leasing team.
"KV Buckeye 10 is a rare investment opportunity," said Oliver. "It offers stable cash flow with 60% of the project already leased, and there is potential to create value by leasing the remaining space. The demand for small and midbay tenant sizes in Buckeye has remained robust, as there are no available spaces for tenants requiring less than 50k sf. This strong demand is evident in the project being 43% pre-leased prior to completion."
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