Toy manufacturer signs big industrial lease in Buckeye

Toy manufacturer signs big industrial lease in Buckeye

Article Originally Posted By Phoenix Business Journal On October 13, 2021

A Buckeye industrial site landed a major lease with a giant toy manufacturer — Everett, Washington-based Funko Inc.

Funko Inc. (Nasdaq: FNKO) signed a full lease for Phoenix-based LGE Design Build’s 863,000-square-foot industrial facility, dubbed 10 West Commerce Park, in September, according to Colliers International.

The site is located on the northwest corner of Lower Buckeye and Miller roads close to Interstate 10 and State Route 85 and is expected to be completed by early 2022. Real estate database Vizzda shows that LGE Design Build purchased the 76-acre site for $7.3 million from Miller Park LLC in February.

The project also has the potential to expand the footprint to an additional 211,000 square feet, the Phoenix Business Journal previously reported. According to marketing materials for the site, Andy Markham, Mike Haenel and Phil Haenel with Cushman & Wakefield served as brokers on the facility.

The facility could be used as a distribution or manufacturing facility, but it's unclear what Funko plans to use it for.

Funko Inc. and LGE Design Build declined to comment for the story. The city of Buckeye declined to comment due to a nondisclosure agreement.

According to its website, Funko is one of the leading creators and innovators of licensed pop culture products and designs. It sources and distributes highly collectible products across multiple categories such as vinyl figures, action toys, plush, apparel, housewares and accessories.

The company holds more than 150 licenses, including Lucas Films, Marvel, Hasbro, The Walking Dead, Game of Thrones, DC Comics, NBA, Sanrio, Disney and more.

Funko is also well known for its Pop! Vinyl products, which the company says is the number one stylized vinyl collectible in the world with more than 10 million units sold in the past three years.