The land is near the northwest corner of Baseline Road and Interstate 10, not far the Superstition Freeway. Terms of the sale weren't disclosed.
Joe Ihrke, Carlson's managing director of investments, says the company likes the parcel because the I-10 and Superstition Freeway are two of the Valley's major thoroughfares. He also noted that the land is adjacent to The Pointe Hilton Resort at South Mountain, which is a major convention hotel, and Arizona Mills, a massive outlet mall that is surrounded by several restaurants.
Carlson is looking for additional sites in the Phoenix area, Ihrke adds.
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