Amazon-Leased Logistics Facility in Phoenix Sells for $100M

Connect Commercial Real Estate | October 1, 2018

The Koll Company and Seera Investment Bank B.S.C.(c) reportedly sold Buckeye Logistics Center in Phoenix for $98.325 million to Boston-based CrossHarbor Capital Partners. The more than one-million-square-foot distribution center is fully-leased to Amazon, which recently converted the property to accommodate its growing clothing and soft goods inventory.

The Koll Company acquired the warehouse/distribution facility in 2016 for $74.75 million. Koll and JLL’s Mark Detmer and Bo Mills worked extensively with Amazon in converting the building use and extending Amazon’s lease term for more than 10 years. In addition, The Koll Company cooperated with Amazon in their acquisition of an adjacent parcel for additional truck trailer storage.

Built in 2007, the facility at 6835 W. Buckeye Rd. initially totaled 604,678 square feet. Since then, the property has expanded significantly to accommodate Amazon’s growth requirements.

Seera Investment Bank B.S.C.(c) is a private equity firm based in the Kingdom of Bahrain.