Cushman & Wakefield announced the firm has represented EQT Real Estate in fully leasing a recently constructed 641,906-square-foot Class A industrial / logistics building on ±40 acres in Buckeye, Arizona. The new full-building tenant is Kenco, a third-party logistics company.
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Known as Gateway I-10, the state-of-the-art building is strategically located with frontage along Buckeye’s I-10 freeway, just west of Verrado Way. It was originally built in 2023. EQT Real Estate acquired the property fully vacant in the spring of 2024 and in conjunction, rebranded the building to its current moniker Gateway I-10. The building’s current name is derived from its location at the gateway in and out of Phoenix.
Cushman & Wakefield’s Mike Haenel, Andy Markham, Phil Haenel, and Justin Smith represented the landlord in the lease with Kenco.
Cushman & Wakefield’s Will Strong, Michael Matchett and, Molly Hunt, of the firm’s National Industrial Advisory Group – Mountain West also arranged the $60.1 million sale last year between EQT Real Estate and the property’s original developer, BET Investments, that produced a win-win scenario for both parties.
Located at 440 North 215th Avenue, Gateway I-10 is a freestanding building that represents Phase I of a larger 145-acre project, titled Buckeye I-10 Logistics, that BET Investments owns and continues to develop.
“EQT Real Estate successfully executed and capitalized on our vision in this exceptional “blank canvas” facility offering the highest quality modern specs and features, through BET’s original foresight and design. Since our acquisition, we also committed to delivering additional building improvements to make the property market-ready for today’s industrial users. Gateway I-10 is now a premier distribution location, as exemplified by this full-building lease with Kenco, an outstanding and well-established logistics business. We extend our thanks to the entire Cushman & Wakefield industrial team for the exceptional efforts arranging the sale and now lease,” said Scott Guo, an Investment and Leasing Officer with EQT Real Estate.
Gateway I-10 offers a prime position at the gateway of the flourishing Phoenix market with direct access to the region’s main transportation route of I-10, which Guo refers to as “the lifeblood for logistics users to move goods back and forth from the port of California.” The location also provides convenient access to the metro’s extensive circulation of highways, including I-17, 303, 202, 101.
“We are thrilled to welcome Kenco to Gateway I-10, a Class A facility that provides occupiers with one of the best locations in the Phoenix Southwest Valley, a submarket that racked up more than 12.8 MSF of occupancy growth during 2024—more than double the next two highest submarkets in Phoenix Metro (per C&W reporting). The region is expected to continue to attract strong industrial demand and occupier activity as 2025 progresses,” said Mike Haenel, Executive Vice Chair.
Given its proximity to the Southern California Ports, the city of Buckeye has become a preferred location for major industrial occupiers in need of strategic logistics and warehouse facilities in the Southwest U.S. The location can connect to major markets including Southern California, Nevada, New Mexico, Denver, Utah, and more, all within a day’s drive.
