NAI Horizon Senior Vice President Rick Foss represented the seller in a $1.92 million entitled land sale of 3.35 acres at the SWC of Price Road and Spectrum Boulevard in Chandler, Ariz.
Foss represented businesswoman Chong Cho of Chandler in the disposition of the land that she had purchased more than 10 years ago.
“This sale presents the highest sale comp for land of its type in the Price Road Corridor,” said Foss ofNAI Horizon. “We were approached by a large number of serious investors due to its size and location in that prestigious, and highly desirable corridor.
“The seller chose to accept the buyer’s offer because they came in with one of the highest offers, reasonable escrow terms, and a project that the City of Chandler would approve. The buyer’s agent informed the seller that they intend to construct a multi-story medical office building on the site. They should be very successful in this venture,” Foss said.
The buyer, Price Novo, LLC of Chandler, was represented by Dan Noma of Venture Real Estate & Investment.