Daum Commercial Real Estate Services negotiated the 22-acre industrial land purchase located at the southeast corner of 23rd Avenue and Alameda Road in Deer Valley. The land sold for $7 million.
The transaction was made successful through Robert Lundstedt, Trevor McKendry, and Chris Rogers of Daum Phoenix, who represented both the buyer, Griffin Opportunities of Los Angeles and the seller, Arizona Wholesale Nursery of Phoenix.
The land was previously part of a 40-acre nursery, split into 22 and 18 acres. Arizona Wholesale Nursery has started to relocate to 80 acres near Lake Pleasant.
Griffin Opportunities plans to hold the property for future real estate development.
Griffin is also underway with the construction of its Desert Gateway development, a two-building 173,235-square-foot industrial project at 11th Avenue and Pinnacle Peak Road in Phoenix.
The project is seeking tenants 8,000 square feet and up, and will be delivered with four speculative suites. Planned for completion this fall, the Daum Phoenix team of Chris Rogers, Trevor McKendry and Carl Johnson have the leasing assignment. Recent progress has been made with completion of tilting the exterior concrete walls.