ViaWest Group is received a new addition to its expanding portfolio, with the recent successful acquisition of the ±9.02 acres of land in Deer Valley. The property is located at the NEC of Central and Pinnacle Peak Rd. at 50 & 100 E. Pinnacle Peak Rd. in Phoenix, AZ. Zoned A-1, the land is currently leased to Cemex, a global building materials company that provides high-quality products and service to more than 50 countries throughout the world. ViaWest Group paid $3.25MM on the 9.02 acre acquisition.
The seller was Luke Land 80, LLC, represented by Luke Lewis of Luke Land Realty. ViaWest Group was represented by John Pompay and Gary Anderson at DTZ.
“We are very excited about the opportunity to have a strategic land location in Deer Valley. We value Cemex’s operations and hope they stay for many years, but, if not, it is an excellent development site for a future industrial project. This site is very complementary geographically to our land holdings for future development in the Southwest Valley, Central Phoenix and the Southeast Valley”, says Steven Schwarz, Principal at ViaWest Group.
ViaWest Group intends to hold the property for investment and will serve as the property manager and asset manager.
