12,081 acres of land in far West Valley sells for $142.5M
The recent sale of 12,081 acres of land in the far West Valley to BA Pacific Sun Valley LLC was handled by Burch & Cracchiolo president Andy Abraham. The sales price of the land, which is near Sun Valley Parkway and the Loop 303 west of the White Tank Mountains, was $142.54 million.
Abraham represented the group purchasing the property that includes Levine Investments Limited Partnership, Andrew Cohn and Gary Tharaldson. The seller was WVSV Holdings, an entity affiliated with Conley Wolfswinkel of W Holdings based in Tempe.
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“This was a deal several years in the making as it went through long court proceedings” comments Abraham. This property is considered a prime location in the future development of the West Valley. The group who has purchased the land has not divulged exact plans or a timetable for development at this juncture. The location near White Tank Regional Park and Douglas Ranch presents a myriad of options for its best use.
Levine Investments and Cohn have significant real estate holdings in the Valley including the State Farm Campus in Marina Heights in Tempe and Uptown Plaza at Central and Camelback Roads in Phoenix. Abraham also worked on the acquisition of those projects in 2017 and 2019 , respectively.
Abraham joined the Firm in 1983 and has served as the Firm’s president since 2017. He is certified as a Real Estate Specialist by the Arizona Board of Legal Specialization. His practice focuses primarily in the areas of commercial litigation, real estate-related litigation and real estate finance and transactions. Abraham was selected 2014 Phoenix metro ”Lawyer of the Year” by Best Lawyers in America for Real Estate Law and Real Estate Transactions and has been honored in every edition of Southwest Super Lawyers since 2007. He is included among Arizona’s Finest Lawyers and is an AV® Preeminent 5.0 out of 5 peer review rated attorney in Martindale-Hubbell.