LogiPropCo buys 76 acres in Buckeye for third Phoenix project

Logistics Property Company has closed on 76 acres at the intersection of Interstate 10 and Perryville Road in Buckeye, Arizona, where it plans to build Sonoran Logistics Park, the firm's third development in the Phoenix area, according to Connect CRE. The project is slated to total 1,226,832 square feet across two buildings with 36- to 40-foot clear heights, more than 15,000 amps of power available, and a location roughly 30 miles from Phoenix Sky Harbor International Airport and within three miles of Loop 303, with construction expected to begin in the fourth quarter of 2026 and delivery expected in early 2028.

The deal is a land buy, so no price was reported and no stabilized value is yet in play — the underwriting lives entirely in the spread between what it costs to build 1.2 million square feet on raw desert dirt and what bulk tenants will pay for it in 2028. LogiPropCo's Brad Cushard and Andrew Spiegel worked the transaction with Cushman & Wakefield's Andy Markham, Michael Haenel, and Phil Haenel, and the Cushman team will also handle leasing, leaving the same brokers who sourced the dirt on the hook to fill it — a setup that concentrates a developer's mind on pre-leasing rather than spec delivery.

Markham's read on the submarket is that the west valley of metropolitan Phoenix is seeing record absorption and robust demand for bulk warehousing and manufacturing facilities, a claim that is a broker's rather than an appraiser's but sits inside a broader pattern this publication has tracked: industrial capital is splitting between infill and commodity product, with scarcity pricing accruing to land and power rather than to older boxes. A 76-acre site on the I-10 corridor with 15,000 amps available reads as a bet on the first category.

The bet hinges on timing: a fourth-quarter 2026 start and early-2028 delivery means LogiPropCo is committing capital now to a supply picture that will be decided by construction starts that have not happened yet — the whole argument for building when others are not. Whether Phoenix absorption holds through that window is the open question, and the answer will show up in lease signings long before the buildings top out.

Cushman & Wakefield's own data on robotaxi industrial leasing — four autonomous-vehicle companies signed nearly 1 million square feet this year, more than they leased from 2022 through 2025 combined — is a reminder that the demand side of industrial is being rewritten by tenants that did not exist as a category a few years ago. Buckeye's power capacity makes it eligible for that class of user, though nothing in the transaction materials says Sonoran Logistics Park is being marketed to it.

For LogiPropCo, this is the third Phoenix-area project and a first entry in PWD's records under that name, which says less about the company than about how quickly Southwest industrial developers cycle through vehicles. Cushman has closed at least six deals this year, including a $57 million Fort Lauderdale industrial campus sale in early October. The Phoenix land trade is smaller in dollar terms but longer in duration: the value gets created over the next 18 months of construction, not at closing.