Creation sets record with $130M sale of 10 West Commerce Park in Buckeye

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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AZBIGMEDIA REAL ESTATE | 18 hours ago | AZRE

Creation, a fast-growing real estate development and alternative investment firm headquartered in Phoenix, announced today the sale of 10 West Commerce Park in Buckeye, Ariz., home to Funko’s U.S. distribution center, to Intercontinental Real Estate Corporation in a joint venture with an affiliate of Cohen Asset Management for a record $130 million, which is the highest gross industrial building sale ever achieved in the city.

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Located on the northwest corner of N. Miller Road and Lower Buckeye Road, 10 West is a 860,602-square-foot industrial building with 30,000 square feet of office space set on a 72-acre site. 10 West was the first big-box industrial facility to be developed speculatively in Buckeye and the entire building was pre-leased to Funko during the 2021 construction process. Will Strong of Cushman and Wakefield brokered the deal that closed last week.


READ ALSOBooming Buckeye healthcare real estate is just what the doctor ordered


“We are firm believers that the Buckeye industrial submarket will continue to mature and attract industry-leading organizations as it establishes its place amongst sought-after West Coast industrial development hubs,” said Brandon Delf, principal and co-chief investment officer with Cohen Asset Management. “We couldn’t ask for a better tenant than Funko at this state-of-the-art, newly completed facility.”

Founded by David Sellers and Bob Agahi, Creation is now looking to double down on its industrial holdings in Buckeye with plans to develop a 4.2-million-square-foot industrial park, Ten85, on a 270-acre parcel located on the southeast corner of Southern Avenue and State Route 85. This logistics park will include four buildings ranging in size from 650,000 to 1.2 million square feet and will cater to a variety of uses. Anticipated to close June 30, Creation is in the process of acquiring the site with the help of Brent Moser of Lee & Associates. Further details regarding the start of construction and estimated completion will be released in the coming months. JLL has been hired to manage the leasing.

“The fact that leading companies like KORE Power, Five Below, Funko and Ross Stores Inc. are all establishing their operations in Buckeye is a huge testament not only to the city’s premier gateway location between Arizona, California and the western U.S., but also the immediate availability of labor, land and access to the supply chain,” said Grant Kingdon, vice president of transactions at Creation. “Buckeye is the nation’s second-fastest-growing city and it’s apparent that a tidal wave of opportunity is starting to form. The area has really become a reliever for the land-constrained Inland Empire. Creation is looking forward to continuing and expanding our investment within the city of Buckeye.”

Earlier this month, the city of Buckeye announced the redesignation of approximately 4,000 acres of vacant and agricultural land with the hope of bringing more industrial uses to the area. In recent years, Buckeye has made impressive strides in establishing State Route 85 as one of Phoenix-metro’s largest industrial corridors, resulting in significant job growth. According to Buckeye Mayor Eric Orsborn, the city currently has approximately 25 million square feet of industrial buildings in the pipeline.

“We are pleased to see this additional investment in the city of Buckeye,” said David Roderique, deputy city manager and economic development director for the city of Buckeye. “Given the success of projects like the 10 West Commerce Park attracting Funko to our community, we are excited for what the future holds at Ten85 and the entire SR85 corridor.”

For more, visit CreationEquity.com.

SEE IT ALL: https://azbigmedia.com/real-estate/creation-sets-record-with-130m-sale-of-10-west-commerce-park-in-buckeye/

About AZ Big Media    https://azbigmedia.com/  

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

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History of Arizona from  900 BC – 2017 -Timeline.

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

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

DISCOVER WHAT IS HAPPENING IN ARIZONA

History of Arizona from  900 BC – 2017 -Timeline.

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.

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”

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  • 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

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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.

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