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7/18/17
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Bright Land Holdings LCC paid $6.1 mil for a 3.17-acre development site in Phoenix. The property, known as the Central Avenue and Indian School Road development site, is located at 4040, 4050 and 4060 N. Central Ave.
The Central Corridor, transportation-oriented development site is located south of the southwest corner of Central Ave and Indian School Rd. It is situated along the primary arterial that links the Central Corridor’s neighborhoods, including Downtown, Central Arts District, Midtown and Uptown.
David Fogler and Steven Nicoluzakis with Cushman & Wakefield represented the seller, Glasir Capital Partners. Mark Bramlett, also with C&W, repped the buyer.
“This site has excellent development potential for developers to pursue high-density multifamily development. With the limited availability of hard-corner, infill T.O.D. sites having great access to major job and transportation corridors, this site is perfectly positioned in the market,” said Nicoluzakis.
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