Scannell Properties buys 70-acre site in Buckeye for $6.65M
Land Advisors Organization’s Metro Phoenix office is pleased to announce the sale of an approximately 70-acre site located in east Buckeye, Arizona. The property, just south of the Interstate 10 near the corner of Miller and Durango roads, sold for nearly $6.65 million to Scannell Properties.
Greg Vogel and Wes Campbell, who represent a broad spectrum of clients including financial institutions, investors, homebuilders, industrial and master-planned community developers throughout Arizona for Land Advisors Organization’s Metro Phoenix office, represented the seller in the transaction. The firm continues to advise clients on this product type and is working on several similar projects in the West Valley.
“We were very pleased to help drive the deal to bring this new distribution center to the city of Buckeye,” said Greg Vogel, founder and CEO of Land Advisors Organization. “It’s exciting to see the continued economic and population growth happening in the area, particularly in the form of large employers and new home construction.”
Plans for the site is the construction of an 850,000 SF distribution center for the specialty discount retailer Five Below. This marks the newest distribution center for the City of Buckeye and West Valley, which continues to grow and attract employers. Five Below plans to bring approximately 150 new jobs to the area initially and expects to grow to nearly 300 employees over the next five years.