Korean battery giant buys 650 acres in Queen Creek for massive plant

You miss 100 percent of the shots you never take, and if you think it’s expensive to hire a professional to do the job, wait until you hire an amateur. FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU. Call me if you want to sell your property and need an estimated value.   Phone / Prefer cell: 520-975-5207
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By Audrey Jensen  –  Reporter, Phoenix Business Journal Apr 19, 2022 

South Korea-based LG Energy Solution Ltd was the sole bidder and winner of about 650 acres of state land in Queen Creek in a Tuesday morning auction. The company paid the minimum bid price of $84.44 million, or nearly $130,000 per acre.

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The site is located on the northeast corner of Ironwood and Germann roads near Zimmerman Dairy Farm and CMC Steel Arizona southeast of Phoenix-Mesa Gateway Airport in Queen Creek.

LGES, one of the largest lithium-ion battery producers in the world, confirmed last month its plans to invest an initial $1.4 billion to build a battery manufacturing plant making up 1 million square feet, with a production capacity of 11 gigawatt hours.

Arizona Gov. Doug Ducey said the new facility is a “historic investment” that will support thousands of jobs in Pinal County and in Arizona. The company said it expects its investment to grow as the project proceeds, while town documents said the plant will represent an investment of $2.8 billion.

News of LGES’s plans for Arizona comes as demand for batteries continues to soar across the globe to meet the demand for electric vehicle manufacturing. Domestic supply is constrained because most of the world’s lithium-ion batteries are produced in Asia, a situation that federal lawmakers are working to change with the U.S. Innovation and Competition Act.

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LGES said the facility, which is expected to break ground this quarter and add 2,800 jobs, will be the first cylindrical-type battery manufacturing plant in North America solely invested by the company. Mass production will start in the second half of 2024, according to the company.

Cylindrical batteries provide high-density, compact energy storage ideal for applications like electric vehicles, according to the Arizona Commerce Authority, which said the new plant will establish LGES’s presence in North America with room for further expansion.

The facility will feature a smart factory system and be one of the largest plants to be developed in the Phoenix region alongside other upcoming projects including KORE Power’s $1 billion battery manufacturing facility in Buckeye and Taiwan Semiconductor Manufacturing’s $12 billion facility under construction in north Phoenix.

The town of Queen Creek approved a development agreement and Foreign Trade Zone recommendation in March for ES America LLC, an entity connected to LG Energy Solution, for about 300 acres of the site. The designation reduces real and personal property taxes from 18% to 5%.

The town also agreed to defer all building and permitting fees and waive the fees if it creates 2,800 jobs. Pinal County will also reimburse LGES training costs of $3,000 per Pinal County resident employed and $1,500 per non-Pinal County resident employed.

“This isn’t just a win for Queen Creek, it will positively impact our region,” Queen Creek Mayor Gail Barney said in a statement. “Advanced manufacturing is a targeted sector and will be located adjacent to State Route 24. The area is planned for mixed use and will further the employment opportunities for Queen Creek, Pinal County, the greater East Valley and the state.”

The property is located in the same area that has been considered by other large companies that appeared to have passed on building facilities in Arizona.

The Arizona State Land Department postponed an auction for 914 acres adjacent to the LGES site, as well as a site in Goodyear, multiple times last year in anticipation of Samsung’s $17 billion plant that’s now being built in Texas.

SEE IT ALL: https://www.bizjournals.com/phoenix/news/2022/04/19/lg-buys-650-acres-in-queen-creek.html

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FROM ME:  FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. Now is the time, if you are thinking of selling or purchasing your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County, Pinal County, Arizona / Office  / Retail  / Industrial  / Multi-family /  please call me on my cell 520-975-5207 or e-mail me     walterunger@ccim.net. Investors and Owner / Users need to really know the market today before making a move. The market has a lot of moving parts. What is going on socio-economically, what is going on demographically, what is going on with location, with competing businesses, with public policy in general — all of these things affect the quality of selling or purchasing your Commercial Properties, Commercial Investment Properties and Commercial and large tracts of Residential Land  Therefore, you need a broker, a CCIM (Certified Commercial Investment Member) who is a recognized expert in the commercial and investment real estate industry and who understands your needs. I am marketing my listings on Costar, Loop-net,  CCIM,  CREXi, Catylist, and various other web sites.  I also sold  hundreds millions of dollars’ worth of  Investment Properties / Owner User Properties in Retail, Office Industrial, Multi-family and Land in Arizona and therefore I am working with  brokers, Investors and Developers. I am also a CCIM and through this origination ( www.ccim.com ) I have access to marketing not only in the United States, but also international

   What is a CCIM.  In Business and in Life you don’t get what you deserve, you get what you Negotiate.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

contact me if you want the me to get you the value of your property.

Walter Unger CCIM – cell: 520-975-5207 – walterunger@ccim.net

Click here to find out what is a   CCIM:

 CLICK HERE TO VIEW ALL MY LISTINGS. 

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Walter Unger CCIM cell: 520-975-5207  walterunger@ccim.net

What is a CCIM.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

History of Arizona from  900 BC – 2017 -Timeline.

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION – IN 1950 THERE WERE 331,700 PEOPLE LIVING IN PHOENIX – “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

PHOENIX TOPS US IN POPULATION GROWTH (MORE THAN LA, NYC) AND WHY THAT’S GOOD FOR THE ECONOMY, BUSINESS

History of Arizona from  900 BC – 2017 -Timeline.

WHY PHOENIX? AMAZING!!!  POPULATION IN 1950 – 350 K PEOPLE; “NOW 5 MIL”. – “5TH. BIGGEST CITY IN USA”

CLICK HERE TO VIEW MY WEBSITE

  • DEMOGRAPHIC FACTS ABOUT MARICOPA COUNTY:

Walter Unger CCIM –  walterunger@ccim.net   – 1-520-975-5207  –  http://walter-unger.com

Why Phoenix?  This is a very interesting article, you should read it, amazing, there were only 350 K people living in Phoenix in 1950

Timeline of Phoenix, Arizona history

Phoenix, Arizona

Facts of Arizona – year 1848 to 2013

CLICK HERE:  Arizona Opportunity Zones As We Understand /maps. Interested!!! Please contact me.

Are you ready to sell or purchase your Land or Commercial Building in Phoenix, Scottsdale, Maricopa County and Pinal County, Arizona, please call me?

Feel free to contact Walter regarding any of these stories, the current market, distressed commercial real estate opportunities and needs, your property or your Investment Needs for Comercial Properties in Phoenix, Tucson, Arizona.

Walter Unger CCIM

Associate Broker

West USA Commercial Division

7077 E MARILYN RD.

Suite 200, Building 4.

Scottsdale AZ, 85254

Phone: 480-948-5554

Cell: 520-975-5207

walterunger@ccim.net

What is a CCIM.

FOR OVER 20 YEARS, I HAVE WORKED EXTENSIVELY WITH OWNERS AND BUYERS IN LAND, COMMERCIAL AND INVESTMENT REAL ESTATE IN PHOENIX, TUCSON AND THROUGHOUT ARIZONA. PLEASE LET ME KNOW HOW I CAN HELP YOU PLEASE CALL ME

CLICK HERE TO VIEW ALL MY LISTINGS. 

Also Call me if you need an estimated value of your Property.

Call me if you want to see a map with what is in the Construction Pipeline for Apartments.

Prefer cell: 520-975-5207,   or email me walterunger@ccim.net.       CLICK HERE TO VIEW ALL MY LISTINGS.    

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I am a successful Commercial / Investment Real Estate Broker in Arizona now for 20 years.  If you have any questions about Commercial / Investment Properties in Phoenix or Commercial /  Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion with you. I am also in this to make money therefore it will be a win-win situation for all of us. 

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