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**Onetime Buckeye Battery Manufacturing Site Sells for $32.5M**
A 214-acre property in Buckeye, Arizona—once earmarked for a $1 billion battery manufacturing facility—has been sold after KORE Power abandoned its development plans.
Industrial developer Tratt Properties acquired the former site of the proposed KOREPlex facility, which is located near Baseline Road and State Route 85. The Phoenix Business Journal reports the purchase price at $32.5 million. Tratt Properties is expected to pursue a speculative industrial project on the site.
KORE Power had initially planned to build a 2 million-square-foot lithium-ion battery plant designed to support the clean energy and electric vehicle markets. The project was expected to create approximately 3,000 jobs and become Buckeye’s largest employment hub.
However, the company was unable to meet key financing and construction milestones, including securing an $850 million loan backed by the Inflation Reduction Act. Following the election of Donald Trump as president and changes in policy direction, KORE Power ultimately chose to withdraw from Arizona, putting the Buckeye property on the market.
With the property now in new hands, Buckeye may still see large-scale industrial development—just not in the form initially envisioned.
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