Lincoln Property to Develop West Phoenix Industrial Facility
- Jan 29, 2021
Lincoln Property Co.’s LPC Desert West is one step closer to developing Buckeye85, a 321,873-square-foot industrial project in Phoenix’s West Valley. The company recently acquired nearly 20 acres at the southwest corner of 103rd Avenue and Buckeye Road and intends to break ground on the development this April. Butler Design Group will provide architecture services and Hunter Engineering will serve as civil engineer. Delivery is slated by year-end 2021.
The property is within the I-10 corridor in an area that is also home to Amazon, Carvana, McKesson, Pepsico, Kroger and Home Depot. Buckeye85 targets mid-size tenants that would benefit from being present in an omnichannel environment clustering suppliers, manufacturers and warehouses. According to a recent report by Colliers International, the Greater Phoenix industrial market ended 2020 with the highest year-to-date net absorption ever witnessed at 13.9 million square feet, with almost half of that absorbed in the fourth quarter.
Upon completion, the Class A facility will have 36-foot clear height, full concrete truck courts and a 94-door cross-dock configuration, as well as freezer/cooler capabilities. Amenities will include touchless technology throughout the building and outdoor spaces featuring built-in barbeque equipment and seating for relaxing, dining and games.
The site is some 13 miles west of downtown Phoenix within a Foreign Trade Zone, 2 miles south of Interstate 10 and Loop 101. The location is 4 miles west of the 458,936-square-foot Buckeye 75, a three-building industrial park developed by LPC in 2006, and 15 miles from a 5.5 million-square-foot industrial project slated for groundbreaking on March 1.
West Valley Completions
The Colliers report shows 6.5 million square feet of new product was delivered in Greater Phoenix the fourth quarter of 2020, with most of the new space entering inventory in a single quarter in the Phoenix market history, with a lot of action happening in the West Valley submarket. Tratt Properties completed the largest-ever speculative building in the Phoenix metro area and LPC delivered the first phase of its 4.5 million-square-foot Park303 in Glendale, Ariz.
Another LPC development in the West Valley is Lincoln Logistics 40. Completed in late 2018, the 901,770-square-foot industrial facility in Goodyear, Ariz., was purchased by Nike for $69.8 million in 2019.