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Multifamily Site Brings $1.3M, All Cash

GLENDALE, AZ-Ruiz Engineering of Tucson takes over a 19.69-acre tract near the Arizona Cardinals stadium site. The plan is to build 276 apartments, marking the developer's third project in three years in Glendale.

By Beverly Ford | Updated on September 12, 2002

GLENDALE, AZ-Tucson-based developer Ruiz Engineering is set to begin construction next week on a 276-unit apartment complex near the southwest corner of 59th Avenue and Bethany Home Road.

The company purchased 19.69 acres for close to $1.3 million in an all-cash deal that will be the third project in Glendale the firm has constructed within the last three years. Brent Moser, with Grubb & Ellis, told GlobeSt.com that the firm was interested in the parcel because of its proximity to the site of the new Arizona Cardinals stadium, scheduled to be located in the same area.

“Ruiz likes that area given all the activity Glendale has coming to it with the stadium and an investment in their downtown core,” says Moser, who represented the buyer in the transaction.

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