Mark-Taylor Capital in joint venture with Kitchell Development Company assembled and purchased ±30 acres in Tempe, south of the SWC of Warner Rd. and Priest Dr.
Brent Moser, Mike Sutton and Brooks Griffith with Cassidy Turley Arizona’s Land Group represented the buyer during the two sales transactions that totaled $11.2M.
Mark-Taylor and Kitchell are developing San Sonoma, a 590-unit multi-family community to be built in two phases.
Construction is expected to begin this summer on Phase 1.
“Mark-Taylor has been a great partner in Tempe for many years and we are excited for this new development, San Sonoma,” Tempe Mayor Mark Mitchell said. “Their collaboration with Kitchell is a perfect fit for Tempe and this area of town.”
The land assemblage included a ±14.75-acre parcel that was purchased in December 2012 for $5.4M from Anglin Family LP and Anglin Family Trust of Queen Creek and a ±14.15-acre parcel that closed March 1 for $5.8M in a purchase from private land owner Lexi Siegal. The owners represented themselves during the sale.