NAI Horizon Senior Vice President Isy Sonabend and Agent Drew Eisen represented the buyer, Tempe-based Carvana, in the $25 million purchase of 148 acres in Surprise, Arizona.
The land is at the NEC of Litchfield and Cactus roads in the Cactus Commerce Center. It has been owned by the Nitta family for decades, according to LoopNet.
Carvana is a leading e-commerce company that sells used cars through an easy-to-use technology platform. The purchase in Surprise comes about a month after Carvana closed on 3 acres on the corner of Loop 101 and 83rd Avenue near Bell Road in Glendale.
“Carvana is making a strong statement in Phoenix with its current acquisitions,” Sonabend said. “The site will be developed into a restoration and storage yard.”
Surrounding land sites in Surprise are home to Crescent Crown, Amazon, MLily and numerous Fortune 500 companies.
“We pursued several sites. However, the location of the Cactus Commerce Center and surrounding utilities provide a quick pathway to development,” Sonabend said.
The seller, Surprise/Dysart Properties of LLC of Orange, California, was represented by Tony Lydon with JLL.