1M-SF Phoenix Warehouse Sells for $118.25M

BentallGreenOak paid $118.25 million for a Buckeye warehouse fully leased by Amazon. US Capital and Ares Management Corp. were the sellers. Amazon inked a 10-year deal at the 1.05 million-square-foot Paloma Vista Logistics Center at 18900 W. McDowell after the building was completed last spring.

The development was designed by Ware Malcomb and built by Willmeng Construction. 

A Cushman & Wakefield team, including Will Strong, Michael Matchett and Molly Hunt, facilitated the sale. Andy Markham, Mike Haenel and Phil Haenel are the leasing brokers for the facility.

The Phoenix Business Journal reports that the Buckeye warehouse was one of three buildings totaling more than 1 million square feet that Amazon leased in the West Valley in 2024 for its new regional inbound cross-dock facilities. Amazon plans to hire up to 6,000 people in these facilities.

Michael Brennan will receive Connect CRE’s Lifetime Achievement Award and will participate in the Keynote Interview with Kevin Brennan, also of Brennan Investment Group. Join us at Connect Industrial Midwest 2025 on the afternoon of Wednesday, March 5, at Joe’s Live in Rosemont, IL, for this exclusive presentation!