The siblings, all principals in the McDermott Family Trust, soldthe prime parcel on Happy Valley Road to La Pour Partners Inc. ofLas Vegas in a deal that almost didn't happen. "There were severaloffers before that never got anywhere," Bob Deininger, with Johnson& Associates in Scottsdale tells GlobeSt.com. "We just had toget them all on the same page for this to happen."

The land, once just sprawling desert about 20 miles northwest ofCentral Phoenix, is now part of the rapidly growing suburbs nearInterstate 17 and 19th Avenue, a major business corridor in theregion. Buyer La Pour Partners Inc., who was represented in thetransaction by Insignia/ESG, have no firm plans to develop thesite, but is eyeing several build-to-suit opportunities forindustrial, office and commercial uses, Deininger said.

The parcel, located on the southwest corner of Happy Valley Roadand 19th Avenue, is in the midst of one of the fastest-growingareas of the city with an expected population boom of between50,000 and 100,000 residents within the next 10 years. The areaalso is home to the650-acre USAA Insurance Campus, which isexpected to eventually employ 15,000 people. "There's a lothappening there right now," said Deininger, who represented thesellers in the deal. "It brings a lot of synergy to thatintersection.