Kent Circle Partners completed the sale of 18.95-acres on the northwest corner of Peoria Avenue and Reems Road, in Surprise, AZ. The parcel zoned C-2 sold for $5,776,204.
The buyer, Toor Enterprises, Inc., headquartered in Peoria, AZ., is planning to build a shopping center on the property.
This sale represents the last piece of a 38-acre parcel in Greer Ranch that Kent Circle Partners purchased in December 2014. “We bought the land as Arizona was beginning to dig out of the recession, noting its proximity to the 303 and located in the path of Maricopa County’s West Valley growth,” said company President Scott Seldin.
In this transaction, Brad Cleaves, Designated Broker with BC Commercial Real Estate, Inc., represented the seller, Kent Circle Partners. Cleaves also represented the company in purchasing the property in December 2014.