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North Surprise land sells big

7.6-acre area goes for $1.7 million

Posted 5/17/22

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 7.589-acre parcel of land in Surprise.

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Deals

North Surprise land sells big

7.6-acre area goes for $1.7 million

Posted

Marcus & Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced the sale of a 7.589-acre parcel of land in Surprise.

According to Ryan Sarbinoff, regional manager of the firm’s Phoenix office, the asset sold for $1,650,000.

Art Rullo, Michael E. Farrar and Ross Smith, investment specialists in Marcus & Millichap’s Phoenix office, had the exclusive listing to market the property on behalf of the seller, an individual/personal trust.   

The subject property is located on West Happy Valley Road.

“The property received significance buyer interest immediately upon hitting the market and ended up selling well above the initial list price,” Rullo said. “The sellers are long-term property owners and were able to capitalize on the opening of West Happy Valley Road and addition of key water and sewer infrastructure in the area. All of these factors contributed to strong buyer interest and increasing land values.”