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Developer Takes Down 10 Acres for $1M

GLENDALE, AZ-Via West Properties pays $1.2 million for 9.8 acres at the southwest corner of 71st and Northern Avenues. The Phoenix-based developer plans to sell off the land to industrial owner/users.

By Jennifer D. Duell | Updated on March 31, 2005

GLENDALE, AZ-With plans of capitalizing on demand from owner/users, a local developer has acquired 9.8 acres from a Seattle investment group for $1.2 million. The land play sets up a development plan for Northern Gateway Industrial Park, which will be piecemeal sold to owner/users.

Via West Properties’ acquisition sits at the southwest corner of 71st and Northern Avenues. The plan is to divide the land into tracts, ranging from three-quarters of an acre to four acres, as development sites, says Gary Anderson, a senior associate with Grubb & Ellis BRE Commercial LLC’s Phoenix office. He and Grubb’s Tony Lydon represented the buyer while the seller, Eaton Investments used an in-house representative, Fred Brandt, to structure its deal.

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