 |
| Kelly Royle |
PHOENIX, AZ – JLL Capital Markets brokered the $51 million sale of KV Buckeye 10, a new 249,600-square-foot industrial complex that is 60% leased. The project is located in Buckeye, Arizona, which has been ranked as the fastest-growing city in the U.S. over the past five years.
 |
| Greer Oliver |
JLL worked on behalf of the seller, Kentwood Ventures, to facilitate the sale to MDH Partners, LLC. KV Buckeye 10, completed in August 2023, is situated on an 18.7-acre site and consists of two buildings: one spanning 115,200 square feet and the other covering 134,300 square feet.
 |
| John Lydon |
The project was designed to seamlessly accommodate tenants of various sizes, from mid-bay to large enterprises, with optimal efficiency.
Additionally, the project
is the only existing Class A industrial project in Buckeye with spaces
available below 50,000 square feet.
Strategically positioned off the I-10 Freeway and
Verrado Way, KV Buckeye 10 offers unparalleled access to the West Valley.
Tenants benefit from high visibility along the I-10 Freeway, with convenient
proximity to the Inland Empire, the Ports of Los Angeles and Long Beach, all
within a travel time of 4.5 to 5.5 hours.
“Kentwood was fortunate to benefit from locating early
in the robust I-10 corridor, dependable backers in ICM and CIBC and reliable
support from the City of Buckeye,” said Jim Zemezonak at Kentwood Ventures.
Jim Zemezonak
The JLL Investment Sales and Advisory
team was led by Senior Director Greer Oliver and Associate Connor
Nebeker-Hay, who represented the seller in this
transaction. JLL’s Managing Director John Lydon and Vice Presidents
Hagen Hyatt and Kelly Royle were also retained by MDH to continue
serving as the project’s leasing team.
"KV Buckeye 10 is a rare investment
opportunity," said Oliver. "It offers stable cash flow with 60% of
the project already leased, and there is potential to create value by leasing
the remaining space.
Connor Nebeker-Hay
"The demand for small and midbay tenant sizes in
Buckeye has remained robust, as there are no available spaces for tenants
requiring less than 50,000 square feet. This strong demand is evident in the
project being 43% pre-leased prior to completion."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers.
Hagen Hyatt
The firm's in-depth
local market and global investor knowledge delivers the best-in-class solutions
for clients — whether investment sales and advisory, debt advisory, equity
advisory or a recapitalization. The firm has more than 3,000 Capital Markets
specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please
visit JLL’s newsroom.
About Kentwood
Ventures
Kentwood Ventures is a private real estate development
and investment company focused on superior risk/return opportunities. Together
the principals, Kevin Dretzka and Jim Zemezonak, bring a combined
70 years of experience and have completed $8 billion in transactions both
locally and nationally.
CONTACT:
Grace Lewis
No comments:
Post a Comment