Cassidy Turley, a leading commercial real estate services provider in the U.S., announced Monday the sale of 15.35 acres of commercial land at the southeast corner of Frye Road and Ellis Street in Chandler, Ariz., for $2.75 Million ($4.11 per square foot).
Chandler-based Delta Frye, LLC, dba The Delta Corporation, a private investment and development group, purchased the property from Tulsa, OK-based BOK Financial Corp. Cassidy Turley Senior Managing Directors Rick Danis and Paul Boyle negotiated the transaction on behalf of the buyer and seller.
“The site received a great deal of interest after the initial development stalled,” Mr. Danis said. “However, there were so many issues with the property; most groups were unable to see past those challenges. This buyer was able to wrap their arms around the site’s nuances and opportunities, and closed the deal in just 12 days.”
The Delta Corporation plans to develop a mixed-use project on the site. The project is well-located in the Southeast Valley near Chandler Regional Hospital, Chandler Fashion Center and adjacent to the Bank of America Campus.
