Staff Reports | Business & Construction
Cushman & Wakefield announced the $32.5 million sale of a 129-acre parcel at the northwest corner of Southern Avenue and Rooks Road in Buckeye that is slated to become the future Summit Logistics Center.
The Cushman & Wakefield team of Mike Haenel, Andy Markham, Phil Haenel, Foster Bundy, Justin Smith, Jordan Sims and Brian Lee represented the seller, Arizona Land Consulting, a Scottsdale-based real estate investment and development firm. Mike Haenel, Andy Markham, Phil Haenel, Foster Bundy, Justin Smith and Jordan Sims also represented the buyer, Scannell Properties, in the transaction and have been retained to lease the property.
The development is planned as a large-scale industrial and logistics project in Buckeye, according to a press release.
“This transaction reflects the sustained demand for institutional-grade industrial development in the West Valley,” Mr. Markham said. “With its substantial scale and strategic location, Summit Logistics Center will provide tenants with a modern logistics hub designed to meet evolving supply chain requirements.”
Phase I, which is expected to break ground in the third quarter, will include a 1,139,994-square-foot industrial facility designed for logistics and distribution users. Plans call for a 40-foot clear height, 3,500 square feet of office space, 240 dock-high doors and four grade-level doors. The master-planned site is designed to accommodate a range of industrial users.
“We’re incredibly excited to bring this development to Buckeye. For logistics and distribution users, Summit Logistics Center delivers a strategic position in one of the most sought-after industrial submarkets in the United States,” said Erik Anderson, senior development associate at Scannell Properties. “Arizona offers a business-friendly regulatory environment, a deep and growing labor pool, and occupancy costs that compare favorably to other West Coast markets.
“Summit Logistics Center represents an estimated $200 million-plus investment in the West Valley, reflecting Scannell’s continued confidence in Buckeye and the broader Phoenix industrial market,” Mr. Anderson continued.
Scannell has been active in the Southwest and Southeast Valley submarkets, where it is developing industrial projects designed to accommodate manufacturing, cold storage, logistics, data center and distribution users.
“We are thrilled to partner with Scannell Properties on the Summit Logistics Center project,” said Anita Verma-Lallian, founder and CEO of Arizona Land Consulting. “This transaction reflects the continued strength of Buckeye and the West Valley as one of the nation’s premier industrial and logistics markets. We are proud to have played a role in bringing forward a project that will create jobs, attract investment, and support Arizona’s long-term economic growth.”
Founded in 2020, Arizona Land Consulting focuses on land investment opportunities tied to industrial, mixed-use and data center developments.
The site is found at the northwest corner of Southern Avenue and Rooks Road and provides access to Interstate 10 and other regional transportation corridors. Its location offers connectivity to the greater Phoenix metropolitan area and regional distribution networks. The property is intended to support logistics operations and provide access to Buckeye’s growing labor force and infrastructure.
