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November 29, 2022
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Stillwater Capital Investments Buys 16.6-Acre Development Site in Mesa, AZ


Dallas-based Stillwater Capital Investments acquired a 16.6-acre multifamily development site in Mesa, AZ in an $11.1 mil transaction. Stillwater plans to construct a brand new 373-unit Class A apartment community on the site.

The property is located at 1445 S Power Rd and 1455 S Clearview Ave, at the corner of E Hampton Ave, near an abundance of walkable retail, shopping, dining and entertainment amenities surrounding the property, including the Superstition Springs Center. Additionally, it is also positioned immediately off the State Route 60 freeway, near the Loop 202 interchange.

At present, the site houses vacant retail structures that Stillwater will demolish to pave way for its new state-of-the-art apartment development. Stillwater is working with architect Omniplan, Brennan Ray of Burch & Crach for rezoning/legal, Ali Fakih with SEG for civil, and Andy Baron with ABLA for landscaping of its new project.

David Fogler and Steven Nicoluzakis with Cushman & Wakefield’s Multifamily Advisory Group in Phoenix represented the buyer in the sale. The seller was Lamar Companies and Utah based GFI-Mesa Investments Ltd.

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