Private investor Buckeye Casa Grande LP assembled and purchased ±610-acres in Mesa along Ellsworth and Pecos Road, in the former Williams Trade Zone. Brent Moser, Mike Sutton and Brooks Griffith with Cassidy Turley Arizona’s Land Group represented the buyer during the transaction. The $25 million sale included three parcels that were part of an original assemblage of four properties totaling over 900-acres put together between 2005 and 2007 by Paragon. A majority of the land eventually went back to lenders.
The ±610-acre purchase by Buckeye Casa Grande LP included ±310-acres on the southeast corner of Pecos and Ellsworth that was sold by Enterprise Bank, ±229-acres on the northwest corner of Pecos and Ellsworth that was sold by GKK Williams Gateway and ±72-acres on the southwest corner of Pecos and Ellsworth that closed December 31, 2012. The seller on the final parcel is a private land owner.
Buckeye Casa Grande LP will develop the site with build-to-suit projects that will continue to expand on the growing employment base in the Gateway submarket. The City of Mesa and their Economic Development Director William Jabjiniak have been instrumental in the continued development of businesses and employment in the area. Zoned M-1 and C-2, City of Mesa, the property has Foreign Trade Zone (FTZ) designation offering tariff and tax relief to companies that operate within the zone. Buckeye Casa Grande LP has retained Cassidy Turley as the marketing agent for the properties, with Mike Haenel and Andy Markham, SIOR, with Cassidy Turley’s Industrial Group working in conjunction with Moser, Sutton and Griffith.
The growth and success of the Phoenix-Mesa Gateway Airport, located on the western edge of the assemblage, was a key factor in the buyers’ decision process for selecting the property. More than 40 companies call the Airport home as well as three airlines, Allegiant, Frontier and Spirit Airlines offering non-stop service to over 38 cities. The Master Plan forecast for Phoenix-Mesa Gateway Airport forecasts enplanements to reach 850,000 by 2017 and over 2.2 million by 2027.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,700 professionals in more than 60 offices nationwide. The company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2011, manages 455 million square feet on behalf of institutional, corporate and private clients and supports more than 28,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.
Cassidy Turley provides regional real estate services with local market leader Cassidy Turley Arizona. The company offers brokerage investment and advisory services in office, industrial, retail, multi-family, land and property management. The firm has completed over $9.8 billion in transactions since 2003 and was the No. 1 ranked Commercial Real Estate Brokerage Company in the Phoenix Business Journal’s 2010 and 2012 Book of Lists. For more information on Cassidy Turley Arizona visit www.ctarizona.com or call 602.954.9000.