200 trust-land acres in Mesa sold for $30 mil

 

 

 

 

 

 

 

 

“It is a miracle that curiosity survives formal education.”
-Albert Einstein

 

By Maria Polletta Arizona Business Gazette | azcentral.com Thu Nov 14, 2013 6:45 AM

Nearly 200 acres of state trust land in southeast Mesa has sold for $30.2 million in what Arizona State Land Department officials are calling Arizona’s “largest residential auction in recent history.”

The 193.4-acre swath, on the northwestern corner of Signal Butte and Guadalupe roads, was auctioned off for $200,000 more than the minimum bid Oct. 17 and likely will develop with a mix of residential and commercial uses.

The State Land Department began hearing rumblings of interest in the parcel about a year ago, according to Commissioner Vanessa Hickman.

The predominant beneficiary of the trust is K-12 education.

The winning bidder was Jerry Ivy, a California investor who has bankrolled parts of projects in Phoenix and Eloy. Bidders had to show up at the auction ready to put 25 percent of the appraised land value, or $7.5 million, down, plus about $700,000 in additional fees and reimbursable costs.

The remaining amount is due within a year, Hickman said.

Ivy is collaborating with Scottsdale-based homebuilder Del Pueblo Communities, which has constructed more than 1,000 homes in Mesa, Chandler, Scottsdale and Phoenix. He did not return calls seeking additional details.

The land lies just a few miles north of 5-square-mile, mixed-use development Eastmark, which ultimately will include resort, employment, recreational and commercial elements. The opening of Eastmark’s first residential phase June 1 attracted more than 5,000 potential homebuyers.

The parcel also has easy access to Phoenix-Mesa Gateway Airport, about 9 miles away.

Upcoming Valley auctions include a 105.7-acre stretch of land in Desert Ridge, at the southwestern corner of Tatum Boulevard and Pinnacle Peak Road.

The land was appraised at $26.7 million and will be auctioned off Dec.

 

 

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LAND SPECIALIST – LAND EXPERT – INVESTMENT BROKER – ARIZONA

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http://en.wikipedia.org/wiki/Timeline_of_Phoenix,_Arizona_history

 

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3

Facts of Arizona – year 1848 to 2013

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4.

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Walter Unger CCIM, CCSS, CCLS

I am a successful Commercial Investment Real Estate Broker in Arizona now for 15 years and I worked with banks and their commercial REO properties for 3 years. I am also a commercial landspecialist in Phoenix and a Landspecialist in Arizona.

 

WHETHER YOU LEASE OR OWN

NOW IS THE TIME FOR YOU TO EXPAND, UPGRADE OR INVEST.

 

we are at on the a rise of the cycle in Commercial Real Estate.  so there is only one way and it’s called we are going up and now is the time for you to expand, upgrade or invest in Commercial Properties in Phoenix.  The prices on deals I may get you will not be around forever.

 

WAITING TO SELL YOUR LAND ? TIMES CHANGE / IT’S TIME

  We barely could give land away the last few years, but times are changing.  Even in those meager years, I sold more land across the state than most other brokers. Before the real estate crash I was a land specialist in Arizona with millions of dollars of transactions, but then I had to change and also sell other commercial investment properties, which was fun, but I am a Commercial Landspecialist in Arizonal, a Commercial Land Specialist in Phoenix and love to sell land, one acre to thousands of acres.

 

If you have any questions about Commercial Investment Properties in Phoenix or Commercial Investment Properties in Arizona,  I will gladly sit down with you and share my expertise and my professional opinion in Commercial Properties in Phoenix or Commercial Properties in Arizona with you.Obviously I am also in this to make money, but it could be a win-win situation for all of us. 

 

Please reply by e-mail walterunger@ccim.net or call me 520-975-5207 (cell)  602-778-5110 (office direct).

 

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Thank You

Walter

 

Walter Unger CCIM

Associate Broker

Kasten Long Commercial

2821 E. Camelback Road, Suite 600

Phoenix, AZ 85016

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