Arizona Land Consulting (ALC) is providing off-market properties to 1031 exchange buyers by utilizing relationships founder Anita Verma-Lallian has with brokers and land owners. She and her team recently assisted a 1031 exchange buyer to acquire a 36-acre parcel of land in a Buckeye opportunity zone on Miller and Broadway for $7.1 million. Within 24 hours of closing, the buyer received multiple offers from multifamily developers on the back portion of the property for much higher than what they bought it for. The buyer plans to use the front 16 acres as commercial use, and has already received an offer for a gas station user on the corner.
Commercial properties are becoming more sparse as more developers and investors are purchasing at record rates, making parcels of land difficult to come buy. Aside from the limited amount of property available, the due diligence period can take up to three months, making the buying process difficult. But ALC has access to a multitude of off-market listings, offering options other companies cannot, and Verma-Lallian has access to a team who can finish due diligence in one week, proving ALC to be a valuable source to developers and investors.
“The rapid growth of the city isn’t only affecting residential real estate,” says Verma-Lallian. “Phoenix was recognized by the National Association of Realtors as one of the top 10 commercial real estate markets for 2021, so it’s no surprise commercial land is being scooped up within days of listing.”
ALC has already closed $7.5M worth of deals this year, with two properties put into escrow within a month of closing at double of what they were purchased for. Aside from working with 1031 exchange buyers, industrial developers and investors, ALC has also done $15M worth of solar deals over the last year, with a $45M project in the works.
Verma-Lallian also owns Equity Land Group, a land investment and development company focusing on shorter term properties for smaller investors.
For more information about Arizona Land Consulting, visit https://arizonalandconsulting.com/.