Class A Phoenix, Arizona project is fully leased to Tempur-Pedic
PHOENIX, Arizona, (October 1, 2024) – Full-service commercial real estate firm Lincoln Property Company (Lincoln) and partner Goldman Sachs today announced the sale of Buckeye 85, a Class A industrial building located in the heart of metro Phoenix’s Interstate 10 Corridor. The buyer is LaSalle.
“We are very pleased to announce this sale and appreciate what it has to say about the continued strength of the metro Phoenix industrial market,” said Lincoln Property Company Senior Executive Vice President David Krumwiede. “LaSalle is a highly respected and strategic buyer. Their selection of Buckeye85 is a compliment to the quality and stability of the project, and to Phoenix’s ongoing ability to attract prime institutional capital to its industrial sector.”
Totaling 321,892 square feet, Buckeye85 is fully leased to leading mattress and pillow maker Tempur-Pedic, part of Tempur Sealy International, Inc. (NYSE: TPX). The lease represents an expansion of the company’s long-standing, multi-building metro Phoenix logistics presence. Tempur-Pedic uses the Buckeye85 facility to distribute to the Western U.S., from Colorado to the Pacific Coast.
“Buckeye85 was designed to give a modern user efficiencies and amenities that support long-term success strategies,” said Lincoln Property Company Vice President John Orsak. “That generated quick interest from multiple tenants, and ultimately a pre-lease to Temur-Pedic signed prior to completion of construction.”
Buckeye85 sits on 20 acres at 10333 W. Buckeye Rd., at the southwest corner of 103rd Avenue and Buckeye Road/MC-85 Highway in Phoenix, Arizona. The building features 36’ clear height, full concrete truck courts, a 95-door cross-dock configuration and a speculative office suite.
It also reflects Lincoln’s trademark “creative industrial” approach, incorporating amenities like smart technology, generous clerestory windows and an employee-centric outdoor amenity space with shaded and landscaped areas, built-in barbeque equipment and seating for relaxing, outdoor dining and games.
Buckeye85 is two miles from a full-diamond interchange at I-10 and 107th Avenue, within a world-class e-commerce market that is home to companies like Amazon, McKesson, Pepsico, Kroger and Home Depot.
Will Strong and Molly Hunt of Cushman & Wakefield represented Lincoln as the investment sales brokers for Buckeye85. Marc Hertzberg and Riley Gilbert served as the investment sales team’s property leasing experts. Gilbert also represented Tempur-Pedic in its lease agreement, bringing Tempur-Pedic’s metro Phoenix industrial footprint to nearly 1.5 million square feet.
For more information on leasing and development opportunities with Lincoln, call David Krumwiede or John Orsak at (602) 912-8888.