$4.6 million deal covers 41-acre parcel on 163rd Avenue
A map shows the location of land that was sold to make way for a new church in Surprise.
Courtesy Marcus and Millichap
Marcus and Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced this week the sale of a 41.25-acre parcel of land in Surprise to make way for a new church.
The asset sold for $4.6 million on Jan. 15. The parcel of land is located at the southeast corner of North 163rd Avenue and West Dynamite Boulevard.
Art Rullo, an investment specialist in Marcus and Millichap’s Phoenix office said Pure Heart Church has acquired the land from a long-term ownership group that held the property in multiple family trusts.
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North Surprise land sold for church
$4.6 million deal covers 41-acre parcel on 163rd Avenue
Courtesy Marcus and Millichap
A map shows the location of land that was sold to make way for a new church in Surprise.
Posted
The land was acquired for the purpose of developing a multi-phase church campus to support this growing area of Surprise.”
Art Rullo | Investment specialist in Marcus and Millichap’s Phoenix office
Marcus and Millichap, a commercial real estate brokerage firm specializing in investment sales, financing, research and advisory services, announced this week the sale of a 41.25-acre parcel of land in Surprise to make way for a new church.
The asset sold for $4.6 million on Jan. 15. The parcel of land is located at the southeast corner of North 163rd Avenue and West Dynamite Boulevard.
Art Rullo, an investment specialist in Marcus and Millichap’s Phoenix office said Pure Heart Church has acquired the land from a long-term ownership group that held the property in multiple family trusts.
“The land was acquired for the purpose of developing a multi-phase church campus to support this growing area of Surprise,” Rullo said in a news release.
Rullo, along with Michael Farrar, investment specialist in the firm’s Phoenix office, had the exclusive listing to market the property on behalf of the seller. The private buyer was procured by Mark Seale and Kevin Helland with Avison Young in Phoenix.
Rullo said Pure Heart acquired the property without any entitlements from the city of Surprise.
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