Phoenix Area Infill Site to Be a Multifamily Community
Berkadia arranged the sale of the 20 acre site at the corner of SW Tomahawk Road and Broadway in Apache Junction. The sales price was $9.5 million.
The acquiring developer plans to build a 201-unit rental home subdivision on the site. The zoning was in place before the sale.
Berkadia’s Mark Forrester describes the location, “This site is located within an identified Opportunity Zone and is convenient to the strong and growing multifamily demand in the East Valley of Phoenix.”
Mike covers our Texas and Phoenix/Southwest regions. He is a veteran news reporter who spent 10 years in radio and television news, mostly in Tucson, Arizona. Following his career in the media, he spent ten years as a communications executive for a publicly traded development company. Mike is married with three boys and three Huskies.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!