PHOENIX, ARIZONA (June 29, 2022) – NAI Horizon facilitated the $2.53 million sale of a swath of land in Casa Grande, Arizona, that had been listed with NAI Horizon 14 years ago as the proposed Morado Hills Industrial Park.
The property sits +/-1.5 miles directly north of and across Interstate 8 from the 2,360-acre Attesa Motorsports Racetrack that is currently under construction.
Senior Vice President John Filli – an industrial, land, and investments sales specialist with NAI Horizon – represented the seller, Talon Mountain, LLC, a Nevada limited liability company, in the disposition of 211.5 acres (9.2 million SF) at the SEC of the intersection of Montgomery Road and Selma Highway in Casa Grande.
“In looking back over the more than 14 years that I have had the listing assignment for the sale or lease of the property, I have to admit that there were a few times when I thought about relinquishing the listing. As it turns out, I never did. Now here we are today with this disposition of 211 acres.”
At the beginning of the 14-year listing period, Filli opened escrow with the Arizona State Prison System. However, escrow was soon canceled due to resistance to the proposed use received from the Town of Casa Grande Public School System.
On June 15, 2011, Filli completed a 40-year ground lease between the owner of Morado Hills and One Energy Renewables of Seattle. The lease remained in place for 1½ years when it was canceled for reasons related to the economy.
Lisa Hauger with Sun Commercial Real Estate Inc. provided the listing referral to Filli. Kavitha Pindi with DHS Realty Texas was the procuring agent. The buyer was Magnum Estates LLC, a Texas limited liability company.
About NAI Horizon
Exceptional global commercial real estate solutions begin with local market leadership and expertise. Established in 1992, NAI Horizon is a full-service commercial real estate company serving Arizona with offices located in Phoenix and Tucson. NAI Horizon is passionate about the commercial real estate business, providing Brokerage and Property Management Services for local, national and international clients. NAI Horizon is a member of the NAI Global commercial real estate network providing real estate solutions to more than 300 offices worldwide. For more information visit www.naihorizon.com.
About NAI Global
Advisory Services, Leasing, Property Management, Property & Note Sales and Tenant Representation
NAI Global is a leading global commercial real estate brokerage firm. NAI Global offices are leaders in their local markets and work in unison to provide clients with exceptional solutions to their commercial real estate needs. NAI Global has more than 300 offices in 43 countries strategically located throughout North America, Latin America and the Caribbean, Europe, Africa and Asia Pacific, with 5,100 local market professionals, managing in excess of 1.1 billion square feet of property and facilities. Annually, NAI Global completes in excess of $20 billion in commercial real estate transactions and a gross revenue of $1.5 billion.
NAI Global professionals achieve extraordinary results for clients locally and globally through creativity, collaboration and the consistent delivery of exceptional knowledge and service that only market-leading firms can provide. NAI Global provides a full range of corporate real estate services, including brokerage and leasing, property and facilities management, real estate investment and capital market services, due diligence, global supply chain and logistics consulting and related advisory services.
To learn more visit www.naiglobal.com.