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5/03/23
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Pedcor Companies purchased a 10.9-acre land parcel located in Buckeye, AZ for $7.93 mil. The site is within an opportunity zone and is slated for the development of a 204-unit garden-style multifamily project. Pedcor is an Indiana-based, full-service development, construction, property management, banking and finance company.
The planned garden-style apartment project will include one-, two- and three-bedroom units with construction timing yet to be determined. The site is located at the Southeast corner of the Watson Road interchange. It is highly visible from the adjacent Interstate 10.
James DeCremer with Avison Young negotiated the sale on behalf of the seller, Watson and I 10 Thirty Four, LLC. Pedcor Companies was repped by Will French of Cushman & Wakefield.
“Buckeye is one of the nation’s fastest-growing cities and there is a strong demand for rental units as population growth continues throughout the Valley,” said DeCremer. “With a slowdown in residential construction due to rising interest rates and development costs, this opportunity zone project will be a welcome addition to the city.”
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