PHOENIX, Arizona – Situated on 2.15 acres, this excellent infill development recently sold for $840,000 ($8.97 PSF). The site is located just south of the southwest corner of Cambridge Avenue and 27th Street in Central Phoenix.
Nick Miner, CCIM and J.T. Taylor at ORION Investment Real Estate represented the Seller in this transaction. "This was a great infill redevelopment property. Before we were involved in the marketing efforts, a previous buyer was planning to build 10 single-family lots on the property. The new Buyer intends to construct a development that has more density and will be a product that they have already developed on other sites in the immediate area," said Miner.
The Seller was Two Blonde Chicks, LLC, represented by ORION. The Buyer, Arcadia 1, LLC, was represented by Remo Paul at Realty One Group.