Phoenix, Arizona – Lee & Associates announces the recent sale of a 2-acre site near Second Avenue and Van Buren Street in downtown Phoenix, Arizona.
The buyer, Aspirant Development plans to build two towers totaling 1.8-million-square-feet, which will include over 390 units of Class A luxury apartments, a 254– key, four-star luxury hotel, 190,000- square-feet of Class A office space, 290 co-living units and 15,000-square-feet of retail and restaurant spaces.
As of December 2020, seven buildings were under construction with a height of at least 200 feet (61 m). A floor count of 15 stories is used as the cutoff in place of a height of 200 feet (61 m) for buildings whose heights have not yet been released by their developers.
Aspirant Development hopes to break ground late summer/early fall of 2021.
Lee & Associates Phoenix brokered the $9.2 million sale of the 2-acre site near Second Avenue and Van Buren Street in downtown Phoenix, Arizona.
Brent Moser and Mike Sutton, principals of the Lee & Associates Phoenix office represented the seller, Desert Troon. The buyer was Aspirant Development, a division of Scottsdale-based Empire Group.