Buckeye’s Funko Distribution Center Commands $130 Million
Creation sold the 860,000-square-foot industrial building to a venture made up of Cohen Asset Management and Intercontinental Real Estate Corporation. The site, which was one of the first speculative builds in Buckeye, was pre-leased to collectibles company Funko during the 2021 construction process.
Creation’s Grant Kingdon maintains that the sale is the highest gross industrial building sale ever achieved by Buckeye, “The fact that leading companies like KORE Power, Five Below, Funko and Ross Stores are all establishing operations in Buckeye is a huge testament not only to the city’s premier gateway location between Arizona, California and the western US, but also the immediate availability of labor, land and access to the supply chain.”
Creation is looking to expand its operation in Buckeye, which is 30 minutes west of Phoenix. The company has placed an offer on a 270-acre parcel where they hope to develop a 4.2-million square foot industrial site.
Cushman & Wakefield’s Will Strong brokered the deal.
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.