NAI Horizon represented the sellers in the $1.525 million disposition of 3.4 acres. The buyer is currently rezoning the parcels from S-1 to CP-GCP in the highly sought-after Phoenix Sky Harbor submarket.
NAI Horizon Senior Vice President Rick Foss represented the sellers, Jeanne and Larry Blackketter of Phoenix in the land sale at 5815 South 36th St., in Phoenix.
The land is surrounded by the South Mountain Business Park, the Eaton 40th Street Business Park, and AIP South 40 Distribution Development. The buyer will construct an industrial property for a tenant who has committed to lease the property, Foss said.
“This is the last industrial piece between two and five acres that was available for purchase in the submarket,” Foss said. “It went under contract as the highest priced for land without I-10 frontage that had been recorded.”
Foss specializes in building and land sales in the Sky Harbor/Tempe submarket
The developer, CTC Properties, LLC, was represented by Mike Parker with CBRE.