(Read more on the industrial market.)
PHOENIX-A local developer has acquired 28.5 acres in the DeerValley submarket for $16.15 million. Preliminary plans call for amixed-use development that doesn't have a name as yet.
Namwest LLC bought the acreage at 19th Avenue and Happy ValleyRoad from Las Vegas investor Garland Talbot. Darren Tappen,associate vice president in Colliers International's Phoenixoffice, says the project could break ground later this year orearly next year, but the project size is still being determined.The site will contain industrial and office projects, with 10 acreson the corner dedicated to retail.
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