Mark Wilcke with the Phoenix office of NAI Horizon handled the transaction. Wilcke tells GlobeSt.com that Chamberlain Development LLC is constructing the building and decided along the way to sell the facility to an investor. Wilcke says the property was not officially on the market.
In Scottsdale, limited liability company Winsor Shea acquired about five acres of raw land for the a future multifamily development. The investment group paid more than $1.3 million for the holding to Standford Inc./Wake Forest Inc. The site takes up the southeast corner of Shea and 142nd Street. Wilcke, NAI Horizon's agent of the month in March, also structured the land sale.
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