(To read more on the industrial market, click here.)
PHOENIX-A Scottsdale investment company has laid the groundworkfor a new business park through a 35-acre, $12.5-millionacquisition in the Deer Valley submarket.
Sierra Ventures LLC has gotten control of land at the corner of19th Avenue and Happy Valley Road to develop the Alameda BusinessPark. The buyer intends to invest an additional $2.5 million intoinfrastructure to create 12 lots, ranging from 1.7 to 3.68 acres.The resale prices are being finalized, but land prices in the areaare running between $16 per sf and $19 per sf. The buyer beganinfrastructure improvements prior to closing.
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