Mangat Group sees Buckeye land value jump 224% in month
The Mangat Group, a Glendale-based land development group, has invested nearly $35 million in land purchases in the last six months, and currently owns roughly 1,000 acres throughout the Phoenix-metro area. They most recently purchased a parcel of land in Buckeye valued at $2.5 million at the beginning of March, and by the end of the month, that same piece of land was in escrow for $5.6 million.
“Land value in Arizona is increasing exponentially,” says Tony Mangat, founder of The Mangat Group. “We purchased a plot of land in Peoria for $180,000 a few years ago, which is now valued at $4 million.”
Mangat, a serial entrepreneur, founded The Mangat Group after immigrating to the U.S. from Punjab, India with only $20 in his pocket. Mangat and his team are a small yet fast-growing group who purchase and develop property primarily in the West Valley.
Mangat’s first project consists of a 36-acre plot of land in Glendale off Northern Avenue and the 101 freeway, which he is turning into a field hockey stadium, the first of its kind in Arizona. He plans to add other areas for soccer and field tennis, as well as an area for restaurants and hotels, and a fully operational media center. The $50 million sports complex will hold between 700-900 people at any given time.
“This is a passion project inspired by Indian religious leader Jarnail Singh Bhindranwale,” says Mangat. “I wanted to leave a legacy for him, all while providing an area for children to develop and learn good values so they don’t go down the wrong path. I have hopes this will inspire kids to play more sports so they stay off drugs and live a healthier lifestyle. I wanted to improve the community by providing those opportunities.”
Mangat was also motivated to build the stadium for his son’s teammates. “My son plays for the U.S. junior field hockey team, and I wanted to provide a practice field for him and his teammates, especially with the Olympics coming to Los Angeles in 2028.”
In addition to the Glendale property, Mangat owns the most residential property in Buckeye, at 315 acres. He plans to partner with housing developers to construct a community near the downtown area off Highway 11, and is currently looking for additional land purchases in the area.
Mangat is also developing a large truck stop on 16 acres in Black Canyon City and has plans for a gas station and fast food restaurants on 80 acres in Tonopah. They will be breaking ground in the next 60 days on three self-storage facilities in Peoria, Glendale and Goodyear, and will begin construction on two RV storage facilities off Jomax and the 101, and Baseline and the 202 in the next four months.
For more information about The Mangat Group, please visit www.mangatgroupinvestment.com.