Drexler Enterprises Inc., a Phoenix-based investment company, has sold a 12.26-acre development site, located at the northwest corner of Loop 202 and Baseline near Laveen for $2,220,503. The buyer was LGP Enterprises, a commercial developer. Commercial real estate broker Brian Rosella of Kidder Mathews represented Drexler Enterprises in the transaction.

The property, planned for commercial development, is part of a new stretch of the Loop 202 that has exploded with several new projects in the past 24 months and more in the pipeline.

“Builders and developers continue to look for opportunities in well-located submarkets with access to nearby freeways and amenities. This parcel is well-positioned to meet the needs of a continuously expanding area,” said Rosella.