Sometimes, the best opportunities come disguised as setbacks. That’s exactly what’s happening in Buckeye, Arizona, after KORE Power scrapped its plans for a $1 billion battery manufacturing plant. While this might sound like a loss, city officials—and savvy real estate investors—are seeing it as a prime opportunity.
What Happened?
- KORE Power had planned to build a massive battery plant on 214 acres in Buckeye.
- They failed to secure an $850 million federal loan before political changes shifted funding priorities.
- The company relocated its headquarters to Vermont and put the Arizona site up for sale.
- The 214-acre property is now on the market, with JLL handling the sale at an estimated $70-$75 million.
Why This Could Be a Win for Buckeye
While losing a billion-dollar investment sounds rough, Buckeye is in a better position than you might think:
✅ Shovel-Ready Land: The site already has access to power, water, rail, and millions in infrastructure improvements. That means new developers can hit the ground running.
✅ High-Tech Manufacturing Hub Potential: JLL reports multiple interested buyers, which could lead to an even bigger economic boost than KORE Power’s original plan.
✅ Infrastructure is Moving Forward: The city is still investing $10.5 million into a new bridge and roadways to improve connectivity—regardless of who buys the land.
✅ Lessons from Glendale’s IKEA Site: When IKEA abandoned its plans in Glendale, the city pivoted and turned it into a $1 billion resort and amusement park. Buckeye could follow a similar playbook.
What This Means for Real Estate Investors
If Buckeye successfully lands a major employer, property values will rise, bringing:
📈 Higher Rents: More jobs = more demand for housing. If another manufacturer moves in, the need for rental properties could surge.
🏡 Stronger Home Appreciation: Investors holding single-family rentals in Buckeye may see long-term value growth as the area develops.
🚀 New Business Opportunities: Commercial real estate, short-term rentals, and mixed-use developments could all gain traction depending on who buys the land.
Final Takeaway
If you own property in Buckeye—or are considering investing—now is the time to pay attention. Whether this land turns into a high-tech hub, a logistics center, or the world’s largest go-kart track (fingers crossed), the free market is about to do its thing.
And if all else fails… an In-N-Out super complex wouldn’t be the worst backup plan. 🍔