Land Advisors sells 13 acres in Peoria for $3.25M
Land Advisors Organization’s Metropolitan Phoenix office announced the sale of approximately 13 acres of land within the Mystic at Lake Pleasant Heights community located in Peoria, Arizona.
Arizona-based NexMetro Communities, a leading developer of luxury leased-home neighborhoods, purchased the site for nearly $3.25 million and plans to begin constructing phase one of the community, which will comprise 263 luxury multifamily units.
NexMetro is the third builder to land in this nearly 1,090-acre community being developed by a partnership between Avanti Properties Group and Voyager Investment Properties LLC, led by Principals Mark Voigt and Dave Rogers.
The Peoria land is located on El Mirage and Westland roads, east of the first phase of 423 lots in the Mystic at Lake Pleasant Heights Community where Lennar Homes and Taylor Morrison are scheduled to start new homes sales this month.
The Mystic community is also located immediately north of the award-winning and highly-successful community of Vistancia. The ideal northwest Peoria location provides future residents with access to many desirable lifestyle amenities and outdoor activities at Lake Pleasant Regional Park and is just minutes from the Loop 303 for easy connectivity to the surrounding areas.
Greg Vogel, Mike Schwab, Bret Rinehart, Ryan Semro, and Ben Heglie, who specialize in home builder developments and master-planned communities throughout Arizona for Land Advisors Organization’s Metropolitan Phoenix office, represented the seller in the transaction. The firm continues to advise clients on this product type and is working on several similar projects in the area.