Investor Completes $25M Purchase of Land in Former Williams Trade Zone in Mesa

 

Private investor Buckeye Casa Grande LP assembled and purchased ±610 acres in Mesa along Ellsworth and Pecos roads, in the former Williams Trade Zone.

Brent Moser, Mike Sutton and Brooks Griffith with Cassidy Turley Arizona’s Land Group represented the buyer during the transaction.

The $25M sale included three parcels that were part of an original assemblage of four properties totaling more than 900 acres put together between 2005 and 2007 by Paragon. A majority of the land eventually went back to lenders.

The ±610-acre purchase by Buckeye Casa Grande LP included ±310-acres on the SEC of Pecos and Ellsworth that was sold by Enterprise Bank, ±229-acres on the NWC of Pecos and Ellsworth that was sold by GKK Williams Gateway and ±72-acres on the SWC of Pecos and Ellsworth that closed December 31, 2012. The seller on the final parcel is a private land owner.

Buckeye Casa Grande LP will develop the site with build-to-suit projects that will continue to expand on the growing employment base in the Gateway submarket. The City of Mesa and its Economic Development Director, William Jabjiniak, have been instrumental in the continued development of businesses and employment in the area.

Zoned M-1 and C-2, City of Mesa, the property has Foreign Trade Zone (FTZ) designation offering tariff and tax relief to companies that operate within the zone. Buckeye Casa Grande LP has retained Cassidy Turley as the marketing agent for the properties, with Mike Haenel and Andy Markham, SIOR, with Cassidy Turley’s Industrial Group working in conjunction with Moser, Sutton and Griffith.

The growth and success of the Phoenix-Mesa Gateway Airport, located on the western edge of the assemblage, was a key factor in the buyers’ decision process for selecting the property. More than 40 companies call the airport home as well as three airlines, Allegiant, Frontier and Spirit Airlines offering non-stop service to more than 38 cities.

The Master Plan forecast for Phoenix-Mesa Gateway Airport forecasts enplanements to reach 850,000 by 2017 and more than 2.2M by 2027.