TOLLESON, Arizona, May 25, 2023 – Lincoln Property Company’s Southwest division, LPC Desert West, and partner Goldman Sachs have signed leading mattress and pillow maker Tempur-Pedic to a full-building pre-lease at Buckeye85, located in the heart of Phoenix’s I-10 Corridor. The lease brings the $60 million, state-of-the-art warehouse and distribution project to 100% occupied prior to completion of construction.
Under the 321,892-square-foot lease, Buckeye85 will become home to a new Tempur-Pedic distribution center, continuing to expand the company’s long-standing, multi-building metro Phoenix logistics presence.
“Tempur-Pedic has long-recognized – and used – the Valley as a strategic hub for its manufacturing and distribution operations,” said Lincoln Property Company Senior Vice President John Orsak. “We’re proud to help them continue to expand that valued local presence, in a building that was designed with the location, flexibility and creative industrial amenities that modern companies like Tempur-Pedic require.”
Buckeye85 is located on 20 acres at 10333 W. Buckeye Rd., at the southwest corner of 103rd Avenue and Buckeye Road/MC-85 Highway in Tolleson, Arizona. It is two miles from a full-diamond interchange at I-10 and 107th Avenue, within a world-class e-commerce market that is home to companies like Amazon, McKesson, Pepsico, Kroger and Home Depot.
Features of the building include 36’ clear height, full concrete truck courts and a 95-door cross-dock configuration. Buckeye85 also provides creative amenities such as smart technology throughout and an employee-centric outdoor amenity space with shaded and landscaped areas, built-in barbeque equipment and seating for relaxing, outdoor dining and games.
Architecturally, Buckeye85 incorporates the generous use of clerestory windows, providing indoor workspaces with sky views and abundant natural light. The northeast corner of the building also includes a speculative suite with high-end finishes and plug-and-play advantages for Tempur-Pedic to complete a quick and seamless move in. The project is in the final stages of construction now.
JLL Managing Director Riley Gilbert represented Tempur-Pedic in the lease agreement, bringing the company’s overall Phoenix industrial presence to nearly 1.5 million square feet across multiple buildings.
“Buckeye85 places Tempur-Pedic vitally close to key employment pools and population centers, in a market with a very attractive cost of doing business,” said Gilbert. “From a logistics perspective, the property offers direct access to the MC-85 thoroughfare, minutes from Interstate 10 and five hours from the ports of Southern California. These are highly attractive advantages in a Phoenix industrial market that is rapidly developing new barriers to entry.”
Tempur-Pedic is part of Tempur Sealy International, Inc. (NYSE: TPX), a leading designer, manufacturer, distributor and retailer of bedding products to consumers in over 100 countries. Tempur Sealy brands include Tempur-Pedic®, Sealy® and Stearns & Foster®, and non-branded offerings consisting of value-focused private label and OEM products. Products are sold through third-party retailers, 700+ company-owned stores and e-commerce channels worldwide.
For more on leasing, investment or property management opportunities with Lincoln Property Company in the Desert West region, please call David Krumwiede or John Orsak at (602) 912-8888.
About Lincoln Property Company
Lincoln Property Company (LPC) is an international full service real estate firm offering real estate investment, development, design/construction management, leasing and property management/ receivership/asset management services. LPC has approximately 3,200 employees with an international footprint that includes offices in 45 cities across the U.S. and 12 countries in Europe. Since 1965, LPC has developed more than 160 million square feet of office, industrial and retail projects known for their design, quality and superior locations. It currently has more than 433 million square feet of commercial space under leasing and/or management.
LPC's Desert West Region is based in Phoenix and includes Arizona, Nevada, Utah and New Mexico. Since its start in 2001, the regional office has developed over 15 million square feet, acquired more than 6 million square feet and manages almost 19 million square feet of commercial space, including major, award-winning and LEED Certified developments and investments. Since 2019, the company has completed two of the highest-priced metro Phoenix office and industrial transactions and launched the Union office campus in Mesa, new buildings at The Grand at Papago Park Center in Tempe and the Park303 logistics park in Glendale, among other developments. LPC Desert West is consistently ranked among Phoenix’s top commercial real estate firms for both development and property management, earning consecutive 2018, 2019 and 2020 NAIOP Arizona Owner/Developer of the Year awards and designation as an Arizona Republic Top Companies to Work for in Arizona. In 2020, the firm kicked off a regional expansion plan, entering the Nevada and Utah markets with Class A industrial acquisitions. To learn more about Lincoln Property Company, please visit www.lpc.com or www.lpcdesertwest.com.
https://www.lpcdesertwest.com/
