PHOENIX, AZ – Berkadia announced today the sale of 20 acres of land in Queen Creek, Arizona. Senior Managing Director Mark Forrester and Director Andrew Curtis of Berkadia Phoenix completed the $11,047,543 sale on behalf of the seller, Barney Farm I, LLC. The deal closed on December 16, 2021.

The buyer was Maple Multi-Family Land TX, L.L.C.

“The town of Queen Creek offers a youthful, well-educated population base, a vibrant economy and new infrastructure,” said Forrester. “It fit the ideal investment criteria for developers of many asset types.”

“The East Valley continues to be one of the primary growth sectors of Metro Phoenix and much of this ongoing economic expansion is situated around Gateway Airport, Loop 202, The Superstition Freeway and several area master planned developments all close to Queen Creek,” said Curtis. “Queen Creek’s immediate proximity to Mesa, Gilbert and Chandler results in a projected Queen Creek population growth of 34 percent by 2026 over a population base of approximately 70,000 in 2021. Queen Creek will need alternative housing options to keep up with demand and this development site will do just that.”

Buyers plan to build a 497-unit apartment community on the land in 2022.

Berkadia, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is a leader in the commercial real estate industry, offering a robust suite of services to our multifamily and commercial property clients. Through our integrated mortgage banking, investment sales and servicing platform, Berkadia delivers comprehensive real estate solutions for the entire life cycle of our clients’ assets.

To learn more about Berkadia, please visit www.berkadia.com.

PIMA COUNTY, ARIZONA – County Administrator Chuck Huckelberry is now recovering at home after a period of hospitalization and rehabilitation. He was hit by a car while bicycling downtown Oct. 23. He returned home last week and his wife Maureen and a team of therapists and caregivers are providing him support.

“It’s wonderful for Chuck to be home with me. He continues an aggressive therapy regimen, including physical, occupational, and speech therapies,” Maureen Huckelberry said. “Our family is extremely grateful for all of his caregivers over the past several weeks. We especially thank all the well-wishers, County staff, and the Board of Supervisors for their support and understanding over the holiday season. We are currently considering options for the timing and viability of his return to work.”

Maureen Huckelberry also expressed her appreciation for the continued respect for their privacy as Chuck continues his recovery.  She asked that anyone wanting to show their support Mr. Huckelberry’s recovery can donate blood, donate to the American Red Cross, or give to a local bicycle advocacy organization.

For more information the family asks that any inquiries be directed to their attorney Ted Schmidt.

TEMPE, Arizona – Marcus & Millichap (NYSE: MMI), a leading commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced today the sale of McKemy, a 24-unit apartment property located in Tempe, Arizona.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $6,192,000 ($258,000 per unit).

“Nestled in a desirable residential pocket immediately northwest of North Tempe’s Mill Avenue entertainment district, McKemy’s vibrant location offers residents walkable access to a variety of Eat|Work|Play amenities,” said Paul Bay, first vice president in Marcus & Millichap’s Phoenix office. “New ownership will have the opportunity to renovate all unit interiors and benefit from favorable premiums already proven in the immediate vicinity.”

Bay had the exclusive listing to market the property on behalf of the seller, a private investor. The buyer, a limited liability company, was procured by Bay and Darrell Moffitt, senior vice president in the firm’s Phoenix office.

McKemy is located at 109-139 South McKemy Street in Tempe, Arizona.