Development

Land for Peoria self-storage facility sells for $875K

Posted 4/28/21

A vacant parcel in Peoria found a buyer this week with a goal of turning the land into a self-storage facility.

The 4.88-acre parcel on North 75th Avenue between Cactus Road and Sweetwater Avenue …

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Development

Land for Peoria self-storage facility sells for $875K

Posted

A vacant parcel in Peoria found a buyer this week with a goal of turning the land into a self-storage facility.

The 4.88-acre parcel on North 75th Avenue between Cactus Road and Sweetwater Avenue sold for $875,000.

Ross Smith, Michael Farrar and Art Rullo, investment specialists in Marcus & Millichap’s Phoenix office, represented the seller, an undisclosed individual/personal trust. The buyer, an undisclosed limited liability company, was procured by Cushman & Wakefield.

The buyer had taken the property through the city of Peoria's conditional-use permit process and scured the permits for construction, which will start this summer, Mr. Rullo said in a press release.

“This was the buyer’s first Arizona development site acquisition,” he said.

The parcel was notable in an area of Peoria that has limited infill parcels for commercial development.

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