Thank you for sharing!

Your article was successfully shared with the contacts you provided.

PHOENIX-A private investor from Chatsworth, CA, has purchased 7.1 acres of industrial-zoned land for $1.2 million from a limited liability company based in Scottsdale. The buyer plans to build out the land with multi-tenant space.

Richard Sheinfeld acquired acreage at 4821-4841 and 4901 W. McDowell Rd. and 4822-4840 and 4914 W. Brill St. A groundbreaking date has not yet been set.

Rick Danis, senior associate with Grubb & Ellis/BRE Commercial LLC in Phoenix, says the property “sold very quickly, almost within a matter of days.” Not only does Sheinfeld own several business parks in the area, but he also has one right down the street, Danis says.

“The sellers had been hanging onto this property for some time,” Danis tells GlobeSt.com. “They decided to move on. The market is strong and they saw it as a good opportunity.”

Danis and colleagues Paul Boyle and Tony Lydon represented the seller, Palo Cristi Santa Fe LLC. Marc Hertzberg, another member of the Grubb & Ellis/BRE Commercial industrial group, brokered the acquisition for buyer and will be handling preleasing when the development plan is firmed up.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

Dig Deeper


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.