The Buckeye Commons retail master plan near I-10 and Verrado Way in Buckeye continues to progress.
Costco Wholesale Corporation recently paid master site owner Sunbelt Investment Holdings Inc. $5.7M for the 22-acre site of its new 161KSF store in the development.
Costco will serve as an anchor site for Buckeye Commons, which will feature 411KSF of retail in 18 buildings on a total of 64 acres. Leasing agents for the development said additional tenant agreements are in process but have not yet been finalized.
Part of the development includes an agreement with the City of Buckeye for the City to reimburse up to $8M in infrastructure improvements for the area. The cornerstone of the improvement plan is the development of a new four-lane arterial road on Roosevelt Street between Tuthill Road and Jackrabbit Trail.
SIHI is planning another, smaller retail development – Buckeye Commons West – on the other side of Verrado Way. Marketing materials show the 42-acre site could feature six buildings ranging from 2.2KSF up to 40KSF. The materials say possible uses could include convenience stores, a hotel, retail and restaurant space. (Source)
