Cushman & Wakefield announced that Magic Lake 80, LLC of Columbus, Ohio sold 52 acres at Hunt Highway and Heritage Road in Pinal County, Ariz. Lookout Mountain Partners, LLC of Scottsdale, Ariz. purchased the land for $1.25 million.
Brian Rosella of Cushman & Wakefield represented the seller. The buyer, Lookout Mountain Partners, plans to gain entitlements for a residential subdivision to sell to homebuilders.
Cushman & Wakefield is tracking land transactions in the Hunt Highway/San Tan Corridor and has noticed that the number of transactions rose 39% from 2016 to 2017. “The Hunt Highway corridor is receiving a lot of attention from builders and developers right now because of all the growth in Queen Creek,” said Brian Rosella.