August 15, 2007
Chicago, IL -- The Alter Group (www.altergroup.com) announces the sale of Buckeye One, a recently completed 604,500 SF distribution building 100 percent leased to Amazon.com (www.amazon.com) at its Buckeye Logistics Center at Buckeye Road and 67th Avenue in Phoenix, AZ, said Michael J. Alter, President of the Chicago-based national corporate real estate development firm.
The purchaser is Duke Realty Corporation (www.dukerealty.com).
Expandable to more than 1,000,000 SF, Buckeye One features a 30' clear ceiling, 114 dock-high doors, three grade-level doors, 174 trailer stalls, 175-foot truck courts, and a 75 psi ESFR fire-protection system.
Based on the success of Buckeye Logistics Center, The Alter Group is moving forward this month with the construction of two new speculative buildings totaling 683,000 SF.
According to Alter, Buckeye Logistics Center, The Alter Group's inaugural industrial development in Phoenix, is strategically located minutes from I-10 via two full interchanges at 67th Avenue and 75th Avenue. The site, ideally suited for regional distribution users, has east-west access with close proximity to Southern California markets. Buckeye Logistics Center has the ability to support up to 3,000,000 SF of distribution space. The park's total value is expected to exceed $170,000,000.
According to Patrick E. Gallagher, Senior Vice President, The Alter Group, with its low 6.2 percent vacancy rate, the Southwest Phoenix submarket is one of the region's most desirable warehouse/distribution locations.
The Alter Group's exclusive leasing agent for Buckeye Logistics Center is Cushman and Wakefield, represented by Pat Harlan, Director; and Steve Sayre, Director.
The Alter Group is a national corporate real estate development firm with five vertically integrated affiliate companies. Each offers specialized services including healthcare facility development, brokerage, construction, and property management.
The firm, which was founded by William A. Alter in 1955, has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. In 2006, the company has 6,700,000 SF of space, worth $758,000,000 under development in growth markets across the nation. In addition, The Alter Group owns 18 business parks nationally, and 1,500 acres of vacant, improved land for future development.
The firm ranks # 18 in the National Real Estate Investor survey of America's top industrial developers.
This news item came from The Alter Group (www.altergroup.com) and illustrates the growth in logistics and global trade inititives in the US.