160-acre development site in Coolidge sells for $2,002,250
A 160-acre development site located at the northwest corner of Nafziger Road and Martin Road in Coolidge, Pinal County, Arizona, has sold for $2,002,250. The seller P & L Arizona Real Estate LLC, a Chicago restaurant group, was represented in the transaction by Kidder Mathews commercial real estate broker Brian Rosella. The property was purchased by Chicago investor John & Lori Poulsen 2003 Family Trust.
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The property is near single-family homes and a growing retail market. Recently the town of Coolidge has attracted many homebuilders. According to the Homebuilders Association of Central Arizona, year-to-date permit activity in Coolidge is up 761 percent compared to last year and will continue to increase in 2021 and 2022.
“Over the past 15 years, sales of unimproved land near Coolidge have been scarce but, because of the recent activity from home builders in the area, we expect to see land sales pick up over the next couple years,” said Rosella, senior vice president at Kidder Mathews.