Metro Commercial Properties and Principal Real Estate Investors Announce Mesa Light Industrial Development
- Please take notice of the figures on the map for the average cars per daySee more at: http://arizona.realestaterama.com/2015/07/15/metro-commercial-properties-and-principal-real-estate-investors-announce-mesa-light-industrial-development-ID0930.html#sthash.JpWsGxsD.dpuf
Infill location and freeway infrastructure were the selling points here for this development
Tempe, AZ – July 15, 2015 – (RealEstateRama) — On Thursday, July 9, 2015, Metro East Valley Holdings, LLC, a joint venture between Tempe based Metro Commercial Properties, Inc., and a private REIT managed by Principal Real Estate Investors, Des Moines, IA, completed the purchase of 21.5 acres of land fronting the US 60 Superstition Freeway in Mesa, Arizona, for a planned four building light industrial development.
The seller in the transaction was PuppyFeathers, LLLP, an entity controlled by Craig Berge, also president of Berge Ford, Inc. The site located at 614 – 720 East Auto Center Drive, is immediately east of the Berge Ford dealership with frontage on the south side of the U.S. 60 at Mesa Drive
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The $6.5 million land sale was brokered by Kurt Saulnier, Ken McQueen and Chris McClurg of Lee and Associates Arizona.
The 21.5 acre site was formerly zoned for automotive dealership use. The team at Metro Commercial Properties, led by veteran zoning attorney Mike Withey of Withey Morris, completed a re-zone of the site on February 23, 2015, to allow industrial uses for the proposed multitenant light industrial project.
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The 21.5 acre site was formerly zoned for automotive dealership use. The team at Metro Commercial Properties, led by veteran zoning attorney Mike Withey of Withey Morris, completed a re-zone of the site on February 23, 2015, to allow industrial uses for the proposed multitenant light industrial project.
Upon receipt of permits with the City of Mesa, construction is scheduled to commence in August 2015.
Image below shows benefits of location in the Southeast Valley - and that's just above the borderline with our biggest trading partner and neighbor Mexico.
Image below shows benefits of location in the Southeast Valley - and that's just above the borderline with our biggest trading partner and neighbor Mexico.
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