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November 6, 2024
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MULTIFAMILY NEWS
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Zekelman Industries Entity Buys 20-Acre Site in San Tan Valley, AZ for Res Development

10/11/24

Z Modular, a division of Zekelman Industries, purchased a 20.45-acre development site in San Tan Valley, AZ for $14.4 mil. The buyer intends to build a 318-unit multifamily project on the land.

The San Tan Valley land site sits at the southeast corner of Gantzel Rd and El Parque Lane. It is surrounded by single-family housing and is walkable to major national retailers and restaurants including Safeway, Walgreens, McDonalds, Ace Hardware, Brakes Plus, LA Fitness and Salad and Go. It is also situated just south of the planned $5.5 billion LG Energy Solutions battery manufacturing complex.

Z Modular plans to self-develop the San Tan Valley community, which will feature its steel-framed, garden-style FLATZ™ apartment design. The project will be built using the company’s offsite manufacturing and on-site general contracting capabilities. Units will be manufactured at its Chandler factory and then transported to the San Tan Valley location for on-site completion.

Jake McClaughry and Brian Gausden of Western Retail Advisors represented the property buyerin the transaction. Matt Rinzler of Insight Land and Investments repped the property seller, Diversified Partners. Base4 and STG are the project architects.

“We were pleased to represent such a strong buyer, in a transaction that will bring much-needed housing to the booming San Tan Valley market,” said McClaughry “This is a prime example of the right product at the right time in the right place.”

According to McClaughry, the unique Z Modular approach allows developers to expedite construction timelines to meet market demand while maintaining the highest quality standards.




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