A large warehouse fully leased to Amazon has traded hands, the second Valley property used by the e-commerce giant to be sold this year.Miami-based real estate investment firm BentallGreenOak acquired the Paloma Vista Logistics Center building in Buckeye for $118.25 million in all cash, according to Maricopa County land records.A joint venture including US Capital Development and Ares Management Corp. sold the property totaling 1.05 million square feet in November after leasing the building to Amazon.com Inc. It was one of three buildings totaling more than 1 million square feet that Amazon has leased in the West Valley in 2024 for its new regional inbound cross-dock facilities, where it plans to hire up to 6,000 people.A Cushman & Wakefield team including Will Strong, Michael Matchett and Molly Hunt facilitated the sale. Andy Markham, Mike Haenel and Phil Haenel are the leasing brokers for the facility.The building was completed in the spring of 2024 at 18900 W. McDowell Road near Interstate 10 and the Loop 303 and is only half a day’s drive from the Southern California ports.”The real estate is an excellent property for a long-term hold due to the proximity to the freeway, the class A construction and the creditworthiness of the tenant,” said Markham, an executive vice chair for Cushman.Separate facility leased by Amazon sold for $128MThe Paloma Vista building is part of a larger industrial project that will total 2.7 million square feet at buildout including the Amazon warehouse, a 423,000-square-foot building an a 1.2 million-square-foot building.The sale comes just after CRG sold one of its new warehouses also fully leased to Amazon in the largest sale of the year for $128 million. That deal was also facilitated by Cushman & Wakefield.BlackRock Realty Advisors Inc. acquired the 1.2 million-square-foot Amazon building in Glendale at the Cubes project, located at 15301 W. Northern Ave.Here’s a roundup of some other recent industrial deals:• Phoenix-based Creation is partnering with Boston-based investment firm CrossHarbor Capital Partners for a new industrial project called …
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