The Small Space Marketplace

List Your Space

Find Space

Home About Us Executive Subscriber Membership RENTV Conferences Newsletter Contact Us Advertise
May 18, 2024
 Search RENTV
 The REview
News Home Page
Southern California
Northern California
Pacific Northwest
Prop. Management
Press Releases
 R. E. Marketplace
Service Providers
Property Spotlight
 RENTV  Conferences
Subscriber Login:
Forgot Password?

ETC... ETC...
Printer-friendly Version   Email an Associate
Phoenix Dev Site Goes for $13 Mil


Scottsdale-based Aspirant Development purchased a 3.29-acre land parcel in downtown Phoenix for $13 mil ($91/sf). The parcel, located at 1500 N. Central Ave, is planned for the development of a 25-story res tower.

The planned project will feature 325 apartment units and 17k sf of retail space. The project has commenced development with completion anticipated for 2025.

The parcel, situated on the corner of Central Ave and McDowell Rd, is next door to The Spaghetti Factory and is across the street from the Phoenix Museum of Art. It also provides immediate access to the Valley Metro Light Rail stop.

Mark Seale, Jonathan Larsen and Sally Zesut with Avison Young represented the seller, Donnelley Financial. The buyer was repped by Ray Cashen of Cashen Commercial.

Avison Young initially marketed the property with a vacant two-story obsolete office building on the site. The team advised the seller to clear the site to make it more attractive for a buyer as it was shovel-ready for a new development. Once that occurred, the team was able to successfully sell the site above original seller expectations.

Return to the previous page



Home | About Us | Newsletter | Contact Us | Executive Subscriber Membership | Executive Subscriber Home | Advertise
Southern California | Northern California | Pacific Northwest | Southwest | Retail | Multifamily | Financing | Property Management
Archives | Press Releases | Service Providers | JobWorks | Property Listings

Copyright © 2024 by RENTV, All Rights Reserved
Website designed by Regency Web Services, Inc. and powered by Lightning Media