Bo Mills, senior vice president in Phoenix for Dallas-based Trammell Crow Co., says Chamberlain Development LLC plans to build industrial or office space at the intersection of 75th Avenue and Buckeye Road. "Typically, these buyers acquire land, then build buildings for sale or lease," says Mills, who with TCC's Mark Detmer brokered the deal for the seller, the Charles C. Myers Family LP.
Mills says the land generated a great deal of interest in the eight months it was on the market. "75th Avenue is one of the major distribution corridors," he explains, "and to be able to find any land at all these days in southwest Phoenix is challenging."
Mills tells GlobeSt.com that Chamberlain ended up the last buyer standing in a competitive face-off for its price and solid track record. Don and Payson MacWilliams with Colliers International Inc. in Phoenix represented the buyer.
Mill says the seller had owned the land a long time. "The timing was right in the market for a disposition," he says.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.