Cibreo LLC, a Phoenix investment group, acquired the land for $206,910 or $4.75 per sf. The new price is $5.75 per sf, with other tracts going for as much as $7 per sf, confirmed Matt Hobaica of Lee & Associates Arizona. "The good thing is they're doing an office/warehouse condo and it's a hot property right now." He and Allen Lowe, also with Lee & Associates Arizona, represent the seller, Anthem AZ LLC, which has 15 acres left to sell in the 90-acre park.
The buyer's broker, Nancy Dixon of Coldwell Banker in Phoenix, tells GlobeSt.com that plans are being fine-tuned for a 14,000-sf brownstone-type design with five suites of 2,800 sf apiece. Designed by Vernon Anderson, an independent architect from Phoenix, the suites will be priced at $150 per to $160 per sf. Dixon, who is marketing the project, says developer Dan Thomas of IBC Southwest in Deer Valley will begin work as soon as the city go-ahead is issued to keep to a fourth-quarter completion schedule for the lot on the southwestern corner of Anthem Way and Interstate 17. Thomas has a similar project at 23027 N. 15th Lane in Deer Valley.
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