TUCSON, AZ (April 25, 2024) -- Debbie Heslop of VOLK Company represented the seller, LDR Enterprises, L.L.C., in the $1,810,945 ($7.56 PSF) sale of approximately 239,580 square feet of land, approximately 5.5 acres, located at the northeast corner of 22nd Street and Wilmot Avenue.
The transaction closed on April 3, 2024.
"With C-2 zoning, the acreage had lots of interest for apartment sites and other mixed uses," Heslop said. "Most came in too late, after it was already in escrow."
The purchaser, Chapman Automotive Group, LLC, plans to develop the land into an automobile dealership. Tim Newquist of Newquist Investments, as developer, handled the transaction for Chapman Automotive.
The Chapman Automotive Group has 25 locations and 18 brands in Phoenix, Tucson, Payson, Yuma, and Las Vegas. Its staff is nearly 2,284 people strong, and all are committed to delivering the best ownership experience possible.
For more information, Heslop should be reached at 520.495.2235.
To learn more, see RED Comp #11228.