Scannell Properties has purchased nearly 130 acres of land in Buckeye, in a transaction that advances plans for a large-scale industrial development along a key transportation corridor. The site, located near State Route 85 and Southern Avenue, was acquired from Arizona Land Consulting for $32.5 million.
Arizona Land Consulting had previously purchased the same property in 2024 for $18.3 million. Before the latest trade, a prior owner had secured approval from the town for a 2-million-square-foot industrial campus on the site, indicating that the land has long been positioned for significant industrial use, even as project leadership has changed hands over time.
According to reporting from the Phoenix Business Journal, a new developer is now taking the lead on the project, while Arizona Land Consulting continues to maintain an interest. This shift signals a transition in control of the envisioned industrial campus while preserving continuity of involvement from the former owner.
Cushman and Wakefield played a central role in bringing the deal together. A brokerage team consisting of Andy Markham, Phil Haenel, Michael Haenel, Foster Bundy, Justin Smith and Brian Lee represented both the buyer and the seller in the transaction. Their dual representation underscores the institutional nature of the parties involved and the scale of the planned industrial use at the site.
The property is currently moving through Buckeye’s administrative review process, with a site plan under consideration by local officials. This step marks an important procedural milestone as the parties work to align the development vision with municipal requirements and previously granted approvals.
Scannell specializes in build-to-suit and speculative projects across industrial, office and multifamily property types. Since 1990, the company has developed more than 140 million square feet of real estate and reports an annual development volume exceeding $5 billion. Its acquisition of the Buckeye land adds to a long track record of large-scale projects and positions the firm to play a lead role in shaping future industrial capacity in the area.
As the administrative review continues and the new development team refines plans for the site, the transaction highlights ongoing investor interest in industrial land tied to major transportation routes. Further project details, including any updated development program or phasing, have not yet been disclosed.
