Buzz Oates Enterprises Arizona has signed a long-term lease fors 226-acre parcel at the southeast corner of 75th Avenue and VanBuren Street and plans to begin construction on a 552,330-sfwarehouse before year end, says Doug Barkdule, a partner in theSacramento-based development company. It would be the largestspeculative project to be built in Phoenix this year.
Barkdule won't disclose the projected development cost. However,construction experts put the price tag for the building at between$13 million and $15 million.
"Large distribution users are price-conscious, and currently thesouthwest Valley has the least expensive land," Barkdule tellsGlobeSt.com. "You have to be confident that Phoenix will attractthe large users, and that when they do, your product is ready."
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