Marcus & Millichap announced the sale of a 2.64-acre parcel of land located in Peoria that sold for $875,000. The property is located on Lake Pleasant Parkway, north of Jomax Road.
The buyer plans to pursue approvals from the city of Peoria to develop a built-to-rent community on the site, according to the real estate firm.
Marcus & Millichap investment specialists Art Rullo, Michael E. Farrar and Ross Smith had the exclusive listing to market the property on behalf of the seller, a limited liability partnership.
