"This is a great piece of land for a potential retail development because of its great demographics, its proximity to the US 60 and because it's across the street from a future Wal-Mart Supercenter," Mindy Korth with Trammell Crow Co.'s Phoenix office tellsGlobeSt.com. The cost of the property at Greenfield and Inverness Roads, acquired from seller Langley Superstition Triangle LP of Mesa, was not released, but Korth says land in that area generally sells for $6 per sf to $7 per sf.
Korth says the shopping center, being laid out with two pad sites, is in the planning stages, but already has drawn some interest from potential tenants. "They're working with a few shop tenants and have some anchor tenant candidates, but there is nothing firm yet," she says of a project expected to cost several million dollars to construct.
Korth and Barry Gable, also with Trammell Crow, negotiated the land purchase for Maverick Holdings. The seller was represented by Randy Titzck of Hogan & Associates of Phoenix.
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