APACHE JUNCTION, ARIZONA - 47.1 acres located at Idaho Road, Old West Highway, and Apache Trail sold this past week for a total of $5,800,000 across four separate transactions, which breaks down to $2.83 per square foot for the total land area.
Nick Miner, CCIM, J.T. Taylor, and Larry Kush of ORION Investment Real Estate represented the Seller in this transaction, WGG Partners, LLC. The Buyer, Bela Flor, is a local custom home builder that has done numerous projects in Apache Junction and is excited about the opportunity to work on such a large amount of land all around the downtown area.
This Apache Junction land site was partially located within an Opportunity Zone and had GPLET funding available as well. This mixed-use project is in the heart of Apache Junction’s downtown area, which gives the owner of a land parcel of this size a lot of potential to change the landscape of the downtown scene and increase its rate of growth. The city of Apache Junction has experienced an average annual growth rate of 2.84%.
Nick Miner, CCIM of ORION Investment Real Estate commented on the transaction, “Part of this property is referred to as the “Golden Triangle” which was the 16 acre former hotel site. The City of Apache Junction was looking for a developer that would work with them in creating a gateway into Apache Junction’s downtown
Larry Kush of ORION Investment Real Estate commented, “I am glad to have played a part in the redevelopment of the new Apache Junction Town Center.”