CHANDLER, AZ-In its first land purchase, a Scottsdale entity has acquired 33 acres from two local sellers in a transaction valued at $9.5 million, with future plans to develop office and industrial facilities on the property.Operating under the name ICP D 100 LP, International Capital Partners LLC, an owner of income-producing office and industrial properties, purchased the land, located north of the northwest corner of Loop 202 San Tan and Kyrene Road."The land is zoned agricultural, but has a strong employment overlay," comments Andy Markham, senior associate with Grubb & Ellis/BRE Commercial LLC's Phoenix office. Markham and colleague Mike Haenel brokered the transaction for the buyer and the two local sellers, Chandler Kyrene LLC, which had 24 acres and DePlazes Trust, which sold nine acres.Markham tells GlobeSt.com that the buyer is currently working with the city to rezone the property, and is submitting a site plan. Once complete, "they'll likely develop it into a mixed-use mark, with a mix of office space and some flex industrial," Markham says.The investment is a strong one on the buyer's side for several reasons, Markham points out. For one thing, the property's location offers good access to major roadways.Additionally, "there's not a lot of area left in Chandler on which you can do spec development," Markham adds. "This is a market that can support a lot more of that. The corridor is definitely ready for spec development, and it has some good support from the city."