Phoenix investor buys 143-acre development site in Casa Grande
Southern Cross, LLC, a Phoenix-area investor and developer, has acquired a 143-acre development site located at S/SWC Hwy 287 & Overfield Road in Casa Grande, Arizona, for $1,500,000. The seller was Lending Lifeline-4, LLC, a long-time owner of the property. Kidder Mathews land broker, Brian Rosella, represented the seller in the transaction.
This transaction was one of only a few to take place in Casa Grande over the last few years. The buyer had the conviction to purchase the site, even in uncertain times, due to the long-term growth predicted for this market.
Casa Grande is located strategically between Phoenix and Tucson, Arizona. New employers, as well as several homebuilders, are moving to this emerging area.
Southern Cross, LLC plans to gain access to utilities and then sell as demand from homebuilders grows.
“Casa Grande will see major growth over the next five to ten years, and the buyer will be nicely positioned to take advantage of the increase in demand it will create,” said Rosella.