Onetime Buckeye Battery Manufacturing Site Sells for $32.5M

At one time, a 214-acre site in Buckeye was touted as the location of a future $1 billion battery manufacturing facility. But KORE Power pulled the plug on the project and put the site up for sale.

The Phoenix Business Journal reports Tratt Properties acquired the site off Baseline Road and State Route 85 for $32.5 million. Tratt is an industrial developer who will likely build a spec industrial project at the location.

A year ago, KORE Power halted plans to build a $1 billion lithium-ion battery manufacturing plant after failing to meet financing and construction milestones. The plant, called the KOREPlex, would’ve amounted to over 2 million square feet and brought around 3,000 new jobs to Buckeye, becoming the city’s largest employer.

KORE Power was unable to secure its once-promised $850 million loan through the Inflation Reduction Act by the time Donald Trump was elected president, and the company ultimately decided to move on from Arizona.

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