Colliers International in Greater Phoenix recently completed the $1.575 million sale of 4.91 acres ($7.37 per square foot) of land zoned for multifamily in the heart of Chandler.
MPC Development LLC of Phoenix purchased the land, located on Alma School Road between Chandler Boulevard and West Fry Road, from Grossman/Robson Associates of Phoenix.
The seller was represented by Chaz Smith, senior vice president, John Finnegan, senior vice president, and Ramey Peru, associate vice president, of Colliers International. The buyer’s broker was Mark Forrester, senior partner with Hendricks and Partners of Phoenix.
“This is a highly desirable infill Chandler location with multifamily zoning approval in place,” said Smith, noting MPC homes is planning to construct 77 townhomes on the site, which was previously approved for 92 residential units.
The land is south of the “The Park at Chandler,” which is a 268,000+ square-foot, mixed-use commercial development anchored by Home Depot, Safeway and Staples. The Park Business Center is to the west.
Just east from the land is the San Marcos Golf Course and Resort. Also nearby are downtown Chandler, Chandler Regional Medical Center, Chandler Fashion Center and the Price Road Tech Corridor.
The property has excellent regional access since Chandler Boulevard and Alma School Road are exits on the Loop 101 and Loop 202.