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Buyer Plans Industrial Park for Seven-Acre Tract

PHOENIX-A private investor with substantial holdings in the Phoenix area has added to his portfolio with a $1.2-million land purchase. The plan is to build out the land with multi-tenant industrial space.

By Amy Wolff Sorter | Updated on September 20, 2005

PHOENIX-A private investor from Chatsworth, CA, has purchased 7.1 acres of industrial-zoned land for $1.2 million from a limited liability company based in Scottsdale. The buyer plans to build out the land with multi-tenant space.

Richard Sheinfeld acquired acreage at 4821-4841 and 4901 W. McDowell Rd. and 4822-4840 and 4914 W. Brill St. A groundbreaking date has not yet been set.

Rick Danis, senior associate with Grubb & Ellis/BRE Commercial LLC in Phoenix, says the property “sold very quickly, almost within a matter of days.” Not only does Sheinfeld own several business parks in the area, but he also has one right down the street, Danis says.

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