BUCKEYE, ARIZ. — BGO, on behalf of an institutional investor, has purchased Paloma Vista Logistics Center — Building 1, a Class A warehouse and distribution building on nearly 50 acres in Buckeye. A joint venture between US Capital Development and funds managed by Ares Management sold the asset for an undisclosed price.
Located at 18900 W. McDowell Road, the 1 million-square-foot Paloma Vista Logistics Center — Building 1 offers a clear height of 40 feet, multiple points of ingress/egress and 190-foot maneuverability. Completed in March 2024, the building is part of a master-planned industrial park with a recently completed 423,000-square-foot building adjacent to the property and a 1.2 million-square-foot planned Phase II. Upon completion, the park will total 2.7 million square feet of industrial space.
Will Strong, Michael Matchett and Molly Hunt of Cushman & Wakefield’s Industrial Advisory Group represented both parties in the transaction. Andy Markham, Mike Haenel and Phil Haenel of Cushman & Wakefield provided leasing advisory and were retained by the buyer to continue leasing services for the project.