Real estate development firm closes on sale of $130M industrial building in Buckeye

Jun 22, 2022, 11:00 AM

PHOENIX — A real estate development firm said Wednesday it closed on the sale of a $130 million industrial building in Buckeye.

Creation, headquartered in Phoenix, sold 10 West Commerce Park located on Miller and Lower Buckeye roads to Cohen Asset Management, marking the highest gross industrial building sale in the city, according to a press release.

The 860,602-square-foot building sits on a 72-acre site and has approximately 30,000 square feet of office space. It was pre-leased to Funko during the 2021 construction process, the release said.

Creation, looking to double down on its industrial holdings in Buckeye, plans to develop Ten85, a 4.2-million-square-foot industrial park that sits on a 270-acre lot located near Southern Avenue and State Route 85.

The logistics park is set to include four buildings that range in size from 650,000 to 1.2 million square feet.

Creation is in the process of acquiring the site, which is anticipated to close on June 30.

“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 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,” Grant Kingdon, vice president of transactions at Creation, said in the release.

The sale of 10 West comes after the city of Buckeye announced earlier this month it would redesignate around 4,000 acres of agricultural and vacant land in an effort to open up more uses for industrial businesses in the area.

The city has about 25 million square feet of industrial buildings being developed, according to Buckeye Mayor Eric Orsborn.

“We are pleased to see this additional investment in the city of Buckeye,” David Roderique, deputy city manager and economic development director for Buckeye, said in the release.

“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 State Route 85 corridor.”

Lifetime Windows & Doors

We want to hear from you.

Have a story idea or tip? Pass it along to the KTAR News team here.

Arizona News

(Facebook Photo/Phoenix Police Department)...

Phoenix police involved in shooting near 52nd Street and Thomas Road

Phoenix police were involved in a shooting with a suspect on Monday night, authorities said. 
21 hours ago
The Colorado River winds its way along the West Rim of the Grand Canyon in the Hualapai Indian Rese...
Associated Press

Grand Canyon starting water limitations after pumphouse outage

Grand Canyon National Park is starting water conservation measures on the North Rim due to an electrical failure involving the Roaring Springs pumphouse.
21 hours ago
(AP Photo/Ross D. Franklin)...
Danny Shapiro

National Guard sets up barricade around Arizona Capitol following abortion ruling protests

The Arizona National Guard has set up razor-wire fencing around the Capitol complex in downtown Phoenix following protests over the weekend in response to the Supreme Court’s decision to overturn the constitutional right to abortions.
21 hours ago
Traffic stops as thousands of protesters march around the Arizona Capitol after the Supreme Court o...
Associated Press

Groups want court to block Arizona ‘personhood’ law in wake of Roe ruling

An emergency motion was filed seeking to block a 2021 Arizona “personhood” law that abortion rights supporters fear will be used to halt all abortions.
21 hours ago
(KTAR News Photo/Jeremy Schnell)...
Kevin Stone

Sinkhole almost swallows car after pipe breaks on Phoenix street

A motorist escaped uninjured after driving into a sinkhole that opened up after a pipe broke under a Phoenix street Sunday night.
21 hours ago
From left, Arizona House Speaker Rusty Bowers (Getty Images Photo) and House Minority Leader Regina...
Kevin Stone

Arizona party leaders laud state budget as bipartisan achievement

The Republican and Democratic leaders of the Arizona House both came out of budget negotiations with good things to say about the agreement.
21 hours ago

Sponsored Articles


Most plumbing problems can be fixed with regular maintenance

Instead of waiting for a problem to happen, experts suggest getting a head start on your plumbing maintenance.
Carla Berg, MHS, Deputy Director, Public Health Services, Arizona Department of Health Services

ADHS mobile program brings COVID-19 vaccines and boosters to Arizonans

The Arizona Department of Health Services and partner agencies are providing even more widespread availability by making COVID-19 vaccines available in neighborhoods through trusted community partners.
Canvas Annuity

The secret to guaranteed retirement income

Annuities aren’t really a secret, but they are so misunderstood that they might as well be. Once you understand what an annuity is and how it can benefit you, you could decide this “secret” is the perfect supplement to your retirement plan.
Real estate development firm closes on sale of $130M industrial building in Buckeye