Two commercial land transactions in Buckeye totalling just over 54 acres, sold for $4,000,000 ($74,061 per AC) or $1.70 per SF. The buyer and seller were the same for both parcels and was part of a 1031 Exchange. Plans are to hold the properties for future investment.
Lee & Associates principals Mark Linsalata and Nate Bubeck represented the buyer, Western Properties, Inc. of Washington and Stein Koss and Tom Louer represented the seller, Sun State Builders of Tempe.
The two parcels are part of the Sundance development. Both parcels have frontage on Interstate 10 and are zoned for employment uses with the city of Buckeye.