Sunbelt Investment Holdings Inc. is purchasing 272 acres of land in Buckeye from the Arizona State Land Department for $62.5M.
Bids started at nearly $42.1M, with SIHI ultimately being the last bidder standing. Sunbelt VP Brooks Griffith said the land is “one of the last significant mixed-use commercial land sites along the I-10 West corridor.”
Sunbelt also owns two sites adjacent to the property. One sits to the north, while the other is toward the south. Collectively, the land totals 375 acres.
While specific details have yet to be announced, the company said it is considering a variety of uses ranging from commercial to medical and multifamily.
Now, SIHI will work with the City of Buckeye to entitle the land. Currently, the company expects to break ground on a project sometime around 2029-2030. (Source)