Construction starts on business park next to future Buc-ee’s site

Jun 24, 2024, 4:05 AM

Construction has started on a new $100 million business park called Formation Park 10 on a large si...

Construction has started on a new $100 million business park called Formation Park 10 on a large site next to the future Buc-ee's in Goodyear. (Deutsch Architecture Group Rendering)

(Deutsch Architecture Group Rendering)

Dallas-based Formation Interests has started construction on a 688,000-square-foot business park adjacent to the future Buc-ee’s convenience store in Goodyear.

The overall $100 million development, the company’s first in metro Phoenix, will be built out across two phases that will bring new industrial, office and commercial space to the area.

“We saw the immense growth that was already occurring and the potential for significant growth in the logistics market in Phoenix,” said Adam Herrin, CEO of Formation.

The development team received zoning approvals from the city of Goodyear last year for the 44-acre site at Bullard Avenue and Celebrate Life Way. The buildings will add to a robust collection of industrial facilities and data centers surrounding the Phoenix-Goodyear Airport.

Dallas-based Urban Logistics Realty was previously expected to develop the project, but it has since traded hands to Formation. The company is developing the site with its capital partner, Forth Worth-based Crescent Real Estate.

The first phase will total 430,000 square feet between two buildings and is expected to be completed by June 2025. A second phase will comprise 230,000 square feet across three buildings that are set to break ground next year.

This story is posted in partnership with Phoenix Business Journal. Click to read the full story.

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Construction starts on business park next to future Buc-ee’s site