Land Advisors Sells 23-Acre Site in Surprise for MF Development
Land Advisors Organization Scottsdale sold a 22.99-acre site in Surprise that is planned for Trugold, a 245-unit multifamily development. The property is located at Cotton Lane and Sweetwater Avenue, and sold for $3.65 million to NPC Trugold, LLC.
Hancock Communities plans to build one and two-bedroom rentals with a Tuscan and Santa Barbara flair. The community includes a pool, spa, and covered ramada with linear fireplace and outdoor TV viewing. The project is set to break ground in early May and will be completed in September 2022.
The parcel sale is one of the first multifamily acquisitions on the west side of the Loop 303 in the emerging Loop 303 corridor. Land Advisors Organization Scottsdale’s Mike Schwab, Bret Rinehart, Ryan Semro and Ben Heglie handled the sale on behalf of an unnamed seller.
Rinehart says, “The project, Trugold, will bring the hybrid rental product that has been successful across the Valley to the Loop 303 corridor in Surprise.”
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