PHOENIX, ARIZ. (Nov. 10, 2020) – NAI Horizon Senior Vice President Rick Foss represented the seller in the $4.15 million sale of 9.6 acres on which the buyer plans to construct a 135,000 SF office/showroom/warehouse building on the site.
NAI Horizon represented the Thomas and Olivia DuVall Trust of Phoenix in the land sale at 5824 S. 38th St., in Phoenix. The property was in escrow for almost a year while the buyer/developer rezoned it from S-1 to a Commerce Park/General Commerce Park (CP/GCP) option. The buyer/developer will construct the building for its tenant.
“This location is one of the last remaining large, undeveloped infill parcels in the Central Phoenix, Sky Harbor or North Tempe submarkets,” Foss said. “The sale price establishes a high-sale comp for infill land.”
The buyer, Bondar Holdings, LLC, an Arizona limited liability company, was represented by Ton Bagneschi of Insight Land and Investment.
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 375+ offices worldwide. For more information visit www.naihorizon.com.
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