PHOENIX — Dublin, California-based Ross Stores Inc. (Nasdaq: ROST) recently purchased a massive site in Buckeye, a fast-growing suburb located southwest of Phoenix, for a regional distribution center.
Sources with knowledge of the deal say the off-price retailer plans to build about 1.6 million square feet of distribution space on 213 acres on the southwest corner of Southern Avenue and Watson Road.
The shovel-ready property is also located adjacent to the Walmart Inc. distribution facility and is close to the Union Pacific rail line and MC 85. Ross purchased the site from Scottsdale-based Globe Corp. for $28.3 million on Jan. 25, according to Maricopa County records and real estate database Vizzda.
Ross and the city of Buckeye did not immediately respond to a request for comment about the sale or proposed project.
Read more of this story from the Phoenix Business Journal.