Desert Reflections, owned by golf course and master plan developer Grayhawk Development Inc. of Scottsdale, will use the land at the corner of Frye Road and Nevada Street, just off Loop 202, to store maintenance and lawn-care equipment. Grayhawk owns and manages a residential master-planned community, complete with area golf course and dining facilities.
"This is kind of a satellite operation for them," says Andy Markham with Grubb & Ellis/BRE Commercial LLC in Phoenix, who with colleague Mike Haenel, represented the buyer. "There are no plans to build anything massive on this. They'll just use it for storage." The new owner is contemplating adding modular storage sheds, but nothing more elaborate, he adds.
Markham tells GlobeSt.com that the buyer paid slightly more than the asking price. "This was a bid process, with another group involved," he explains. Jim Stockwell with Ross Brown Partners represented the seller, Wilson Property Services Inc., both of which are in Phoenix.
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