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Growth
Another new shopping center coming to Surprise
Sale completed on parcel at Peoria, Reems
Posted
Another new shopping center is on its way to the southern part of Surprise.
Scottsdale-based Kent Circle Partners completed the sale of 18.95-acres on the northwest corner of Peoria Avenue and Reems Road.
The commercial-zoned parcel sold for $5,776,204.
The buyer, Peoria-based Toor Enterprises Inc., is planning to build a shopping center on the property.
This sale represents the last piece of a 38-acre parcel in Greer Ranch that Scott Seldin’s company purchased in December 2014.
“We bought the land as Arizona was beginning to dig out of the recession, noting its proximity to the 303 and located in the path of Maricopa County’s West Valley growth,” said Seldin, president of Kent Circle Parnters.
In this transaction, Brad Cleaves, designated broker with BC Commercial Real Estate, Inc., represented the seller, Kent Circle Partners. Cleaves also represented the company in purchasing the property in December 2014.
