Velocity Retail Group in partnership with Ross Brown Partners recently facilitated the purchase of a 13.2-acre parcel of land at the southwest corner of Ray Road and Higley Road in Gilbert, AZ. The sale price was $7,621,588.
The land is at the intersection of the highly desirable master-planned development of Agritopia. Darren Pitts, Executive Vice President and Brad Ranly, Associate, along with Bob Crum from Ross Brown Partners represented the Buyer, Breunig Development Company in the transaction. The Seller, Kent Circle Partners (Scott Seldin, President) was represented by Brian Stillman, with Insight Land & Investments.
Gilbert Pavilion will include over 81,000 square feet of retail buildings, with seven planned pads and shop buildings fronting both Ray Road and Higley Road. The pads will be home to a variety of much needed restaurants, and daily needs services such as personal care and automotive.
“We have worked with the team at Breunig Development Company for over two decades on a variety of retail projects throughout Arizona,” said Pitts. “We are excited to launch this unique retail project which will be an enhancement to the surrounding neighborhood for years to come.”
Contact Brad Ranly at 602-682-8120 or Darren Pitts 602-682-6050 for information on leasing and sales in Gilbert Pavilions.
