Joint Venture Plans Massive Industrial Park West of Phoenix

Article originally posted on CoStar on August 25, 2023

A joint venture between two local real estate developers acquired 225 acres in Phoenix’s Buckeye suburb for a business park planned for up to 3.6 million square feet of industrial space.

Van Tuyl Cos., based in Scottsdale, Arizona, and Eisenberg Co., with headquarters in Phoenix, paid $37 million for the parcels that the venture plans for an industrial park named Buckeye 225 designed for six buildings ranging from 270,000 square feet to 1 million square feet, according to a statement from land brokerage Land Advisors Organization, which represented the sellers.

Buckeye, one of the fastest growing cities in the United States by population over the past decade, is a target for real estate developers and other companies hoping to tap into the area’s expanding employment base.

Companies such as Five Below, Cardinal Glass, Ross Dress for Less, Funko Toys and KORE Power have announced new logistics or manufacturing facilities in the area over the past couple of years.

The land has a mile of frontage along State Route 85 with access from both Southern Avenue and Baseline Road, Land Advisors Organization’s Greg Vogel said in the statement.

The Land Advisors Organization team of Greg Vogel, Bobby Wuertz, Ben Heglie and Max Xander represented the sellers in the two transactions.