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Phoenix & Southwest  + Phoenix  + Industrial  | 

Buckeye Development to Add 250K SF of Industrial Functionality

Just west of Phoenix is Buckeye, Ariz. In Buckeye there’s a new 249,600-square-foot industrial development about to get underway after JLL Capital Markets arranged $22.75 million in construction financing.

The Kentwood Ventures development, known as Verrado, includes 10 industrial facilities, two speculative industrial facilities that will lean into distribution research and development and light-manufacturing space. 

The site sits on 18.68 acres at the southwest corner of West Roosevelt Street and North Verrado Way, which provides future tenants immediate access to Interstate 10 and proximity to AZ Loop-303. The anticipated completion date is March 2023.

JLL worked on behalf of the borrower, Kentwood Ventures, to place the five-year (inclusive of extensions), floating-rate construction loan with CIBC Bank USA

Germane location-centric data from the release includes:

Buckeye is positioned within the CANAMEX Corridor, which, when completed between 2030 and 2040, will enable Interstate 11 to pass through Buckeye, creating critical supply-chain infrastructure linking Canada and Mexico.

The JLL Capital Markets Debt Placement team representing the borrower was led by Director Jason Carlos and Analysts Jarrod Howard and Joe Torkelson.

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