Author: Matt Herrington

City of Maricopa Sells Land just North of City Hall

Published on by Matt Herrington

May 25, 2023 Seller: City of Maricopa Buyer: Maricopa Land Acquisition I, LLC 3 Lots with 3 separate APV’s Combined Sale Price: $3,332,094 Total of 12.75 Acres ($261,340/ac) Seller Loan (Carryback) Speculation of Final Use but nothing Confirmed Speculation of Final Use but nothing Confirmed

SouthWestern Power Group Buys more Land in Pinal County

Published on by Matt Herrington

May 18, 2023 Seller: A. Tsakiris Family Limited Partnership Buyer: Red Stick Land Holdings, LLC Sale Price: $6,698,000 790 Acres ($8,478/ac) Entity is believed to be related to SouthWestern Power Group (SWPG) SWPG is an independent developer of utility-scale generation and transmission assets SWPG originally had the SunZia Project

Chemical Strategies, Inc. Expanding into CAZCP

Published on by Matt Herrington

May 5, 2023 Seller: Casa Grande 25 Investments, LLC Buyer: Williams and Meagher, LLC. Sale Price: $2,405,383 10.04 Acres ($239,580/ac) This sale leaves only 5 acres remaining out of 740-Acres in CAZCP Originally posted by John McGuire on Casa Grande Local Government & Economic Improvement Discussion FB Page https://www.bizjournals.com/phoenix/news/2023/05/25/chemical-strategies-semiconductor-arizona.html?csrc=6398&taid=646f5f623e1a2f0001dd030d&utm_campaign=trueAnthemTrendingContent&utm_medium=trueAnthem&utm_source=twitter  

Apartments coming to Pinal Ave/Oneil Dr?

Published on by Matt Herrington

April 28, 2023 Seller: Abiana, LLC Buyer: Sterling Development Investments, LLC Sale Price: $2,850,000 9.03 Acres ($315,615/ac) Believed to used for Apartments Originally posted by John McGuire on Casa Grande Local Government & Economic Improvement Discussion FB Page

792 Acres of Solar

Published on by Matt Herrington

March 24, 2023 Seller: Pinal Land Holdings, LLC Buyer: Boulevard Associates, LLC Sale Price: $15,840,000 792 Acres ($20,000/ac) Believed that the end user is NextEra Energy

Kortsen/Peart Land Sale…Twice

Published on by Matt Herrington

 March 24, 2023 Trinity Lutheran Church of Casa Grande sold to JNL Arizona Properties Sale Price: $1,000,000 for 10 acres ($100,000/ac) JNL Arizona Properties then sold to Toy Storage of Casa Grande Sale Price: $3,528,052 ($352,805/ac) Reason for the Dramatic Increase??? Development/Infrastructure Contributions????

Here’s how Pinal County could shape up over the next decade

Published on by Matt Herrington

Future focus on office, health care development By 2030, Pinal County is expected to grow by another 130,000 people focus on bringing office development, health care and tourism and entertainment options   https://www.bizjournals.com/phoenix/news/2023/03/23/pinal-county-arizona-industrial-growth-next-decade.html?utm_source=st&utm_medium=en&utm_campaign=ae&utm_content=PH&j=3093 9522&senddate=2023-03-23

40 Acres next to Lucid Sells for $6.5 Million

Published on by Matt Herrington

* March 15, 2023 * Seller: Doug Keeling * Buyers: Ashland Group, Greenfield CP and Lake Worth Site Development * Sold for $6,500,000 * 40 acres ($162,500/ac), farmland * Land is currently in county but believed to be in the process of annexation * End use unknown, but at $3.73/sf for basically raw (unimproved) land, this […]

ELOY FREEWAY PARCEL CLOSES

Published on by Matt Herrington

January 3, 2023 SWC I-10 and Toltec Rd $2,200,000 or $2.85/sf cash California (and/or Texas?) buyer (JAVELINA DEVELOPMENT LLC) intent unknown, but at the price paid, seems like it should be for development Rumor is that this will be another Pilot Truck Stop

LOTS FOR NEW APARTMENTS CLOSE

Published on by Matt Herrington

In two separate transactions, the land underlying the new ROERS CASA GRANDE APARTMENTS development (***thanks for image to John McGuire’s Casa Grande Local Government &  Economic Improvement Discussion Facebook Page) 2022-126429:  7.3ac N of NWC Trekell Rd & Jimmie Kerr $1,099,236 or $3.36/sf cash 2022-126430:  3.34ac (2 parcels) $428,550 or $2.96/sf cash Blended parcel of 10.64ac […]

New industrial park proposed for Pinal County city of Eloy

Published on by Matt Herrington

50-acre site in Eloy Support the growing manufacturing base in Pinal County and companies like Lucid Motors, Nikola Corp., Kohler Co. and Procter & Gamble construction by the fourth quarter of 2023 Pinal County’s lower costs, workforce, housing and education options have continued to draw more companies to locate south of the Phoenix metro as […]

OPUS LANDS @ I8 / I10

Published on by Matt Herrington

December 22, 2022 21.8ac NWC Hanna & Sunland Gin Rds $4,746,580 or $5/sf cash Seems that buyer is intending “spec”  industrial space;  site construction fencing is being erected immediately

THINGS ARE GETTING PRICEY $$$

Published on by Matt Herrington

December 15, 2022 156.92ac @ SWC Arizona Farms and Felix Rds $15,692,000 or $100,000/ac or $2.30/sf cash Seller is Stacey Brimhall Buyer intent unknown, but at a price like that, some kind of development better be ready to happen

VERMA STRIKES AGAIN (AGAIN)

Published on by Matt Herrington

December 1, 2022 320ac S of SEC Val Vista & Burris Rds BOUGHT for $6,250,000 or $19,531/ac cash SOLD immediately for $9,430,000 or $29,469/ac cash INSTANTANEOUS PROFIT:  $3,180,000 Buyer and seller believed to be related entities

INDUSTRIAL LAND IN WEST CASA GRANDE IS KINDA HOT …

Published on by Matt Herrington

… and one of the few remaining lots in the City’s original industrial park just closed November 30, 2022 4.94ac just east of HEXCEL on Gila Bend Hwy / Hwy 84 $865,000 or $4.02/sf cash Seller was local media company owner family (Kramer) Parcel presumably has all utilities to site, and existing industrial zoning in place Buyer was […]

Master-planned community with homes, apartments proposed for Pinal County

Published on by Matt Herrington

The site totals about 761 acres located in the northern part of the county at the southwest corner of Arizona Farms and Felix roads. Pinal County vote on project expected in December About 40 acres of the site would also be designated for commercial uses https://www.bizjournals.com/phoenix/news/2022/11/30/arizona-el-dorado-holdings-homes-pinal-county.html?ana=emailafriend    

LARGE LAND SALE IN ELOY

Published on by Matt Herrington

November 23, 2022 601.13ac raw land (from Assessor records) generally south of Selma Hwy and west of 11 MIle Corner Rd $11,849400 or $19,712/ac cash Buyer is a solar energy farm developer NOTE:  This APV is a total mess – various representations on P1 are not factual, but the associated deed was used for actual parcels […]

PRIME COMMERCIAL LAND ON FLORENCE BLVD SELLS

Published on by Matt Herrington

November 16, 2022 .9931ac between Auto Zone and CVS $820,171 or $18.96/sf cash Buyer and seller are related;  parcel is one of four owned by seller split from larger parcel Price seems high for unimproved lot without physical access;  unknown what site improvements were included in this sale or internal price determination between buyer/seller Buyer intention unknown

CHIP-MAKING JUGGERNAUT TSMC EYES MULTIBILLION-DOLLAR ARIZONA FACTORY EXPANSION

Published on by Matt Herrington

While this semiconductor plant is planned for north of Phoenix, it will sure have a big impact on the semiconductor chemical facilities coming into Pinal County. “TSMC’s new facility would manufacture so-called 3-nanometer transistors, some of the tiniest and most lightning-fast currently possible, the people said.” https://www.wsj.com/articles/chip-making-juggernaut-tsmc-eyes-multibillion-dollar-arizona-factory-expansion-11667973859

Public hearing and consideration of a request by Mesa Cobre Holding Corporation for a Temporary Use Permit (DSA-22-00200)

Published on by Matt Herrington

Mesa Cobre proposes to conduct mineral exploration drilling activities within a 7,000-acre area in the City Mineral exploration drilling activities located north of West Gila Bend Hwy., south of Maricopa/Casa Grande Hwy., east of North Indian Valley Rd. and west of Bianco Rd. Mesa Cobre Holding Corporation on behalf of Ivanhoe Electric Requests authorization from […]

NAP’S AT IT AGAIN …

Published on by Matt Herrington

October 31, 2022 3 parcels totalling 617.58ac at the NWC Battaglia & Sunland Gin Rds $9,263,700 or $15,000/ac cash This adds to his recent purchases on the other side of Sunland Gin (blue arrows in map graphic)

NOW, HERE’S A STRANGE DEAL …

Published on by Matt Herrington

Or, rather – a deal for a strange parcel of land: October 26, 2022 5.57ac @ NWC Early Rd & I-10 $87,500 or $15,709/ac Zoned City of Casa Grande UR (Urban Ranch) Buyer intention unknown Sounds cheap, until you think about what to do with this skinny parcel, but – at 200′ wide, there’s gotta be some […]

CASA GRANDE COMMERCIAL (MEDICAL?) LOT SELLS CHEAP

Published on by Matt Herrington

September 30, 2022 2.5ac in MONUMENT VILLAGE, an “old” commercial lot subdivision that started primarily as a medical office area, but now includes a Social Security Admin office, which is a converted medical office $212,000 or $1.95/sf cash Principal of buyer entity Rajneesh Punnakkattu is a Casa Grande-area pulmonologist, so purchase is believed to be for new […]

IS IT A BIRD OR A PLANE?

Published on by Matt Herrington

Is it a lot with a small building, or a small building on a large lot? September 12, 2022 600sf building on a .34ac lot, historically used as a used car sales lot @ NWC 2nd & Dry Lake Sts (across from St Anthony’s church) $245,000 with $32,500 cash down payment, seller carry Buyer intention unknown

LOCAL MOTORSPORTS DEALER BUYS MORE LOTS

Published on by Matt Herrington

August 31, 2022 19 subdivided office/warehouse lots near Casa Grande Municipal Airport Lots surround buyer Adrenalin Motorsports’ existing sales and service facilities and are in the same development, to the north of the Crossroads Church facilities also recently bought by Adrenalin (to come) $400,000 with $200,000 (50%) cash down payment, seller carry $21,052 per lot Lots […]

ELOY INDUSTRIAL FACILITY SELLS

Published on by Matt Herrington

August 29, 2022 47,211sf building on 8ac @ 1330 W Battaglia Rd $5,500,000 or $116.50/sf cash Intention of Buyer HERITAGE BATTERY RECYCLING, LLC, an Indian Limited Liability Company unknown but presumably their intended use has to do with the recycling of batteries

LUCID CLOSES ADDITIONAL ACREAGE

Published on by Matt Herrington

This transaction is shrouded in mystery, because since the buyer was technically a political subdivision of the State of Arizona (Pinal County), the deeds could be recorded with an exemption to reporting the deal particulars on an Affidavit of Property Value. Reference various media reports of the financing vehicle whereby Pinal County floats bonds for […]

IN-TOWN CORNER SELLS

Published on by Matt Herrington

August 8, 2022 3.4ac at the SWC Cottonwood Lane & Colorado St $600,000 or about $4/sf cash Currently zoned CO (commercial office) No information on the Colorado-based buyer’s intent

EVA’S (THE BUILDING) SELLS!!

Published on by Matt Herrington

This is the moment we’ve all been waiting for … accompanied by zero fanfare, no advance rumors at all! August 3, 3022 $2,500,000 with $500,000 cash down payment, seller carry No indication of the plans REYNA’S MEXICAN FOOD LLC has for the facility

WADE JURNEY HOMES BUYS 44 MORE LOTS

Published on by Matt Herrington

July 22, 2022 44 lots @ MTN VIEW ESTS (SW of I-8 / I-10 intersection $1,708,000 or $38,818/lot cash Most lots are 1ac+, subdivision has all utilities Seems like WADE JURNEY has been doing very well with its Arizona City and Toltec programs;  these lots will give it a “large lot” product line in the same part of […]

“SPEC” DIRT NEAR CG’S AIRPORT IS FINALLY HEATING UP

Published on by Matt Herrington

July 14, 2022 40ac (Pinal County Assessor’s records) $1,100,.000 or $27,500/ac (36% cash dp, seller carry) Buyer intention unknown The land west of the airport and industrial airpark but east of the mine and the land surrounding it has been a speculative hotbed in past bull markets, even with many problems:  very little infrastructure, flood plain(s) and […]

VERMA EXTRACTS ANOTHER $4.5M IN CASA GRANDE LAND FLIP PROFITS

Published on by Matt Herrington

Three concurrent deals, so pay attention: June 15, 2022 Bought 187ac for $8,041,000 or $43,000/ac or 99¢/sf cash (2022-06246);  seller Kiefer Bought 160ac for $7,200,000 or $45,000/ac or $1.03/sf cash (2022-069250);  seller Lawrence (Nap/Spike) Sold 347ac (both together) later same day for $ 19,706,544 or $56,791/ac or $1.30/sf cash (2022-069308) Buyer/seller Verma et al acted as ARIZONA LAND CONSULTING LLC Multiple […]

LAPOUR DEVELOPMENT CLOSES 205ac INDUSTRIAL PARCEL

Published on by Matt Herrington

June 8, 2022 205ac $2,400,000 or $11,707/ac Buyer LaPour Development intends to develop the site as CG COMMERCE CENTER into sites for industrial development including manufacturing, warehousing/logistics, both “spec” and build to suit custom spaces Broker for the development is Stein Koss at Lee & Associates Tish Sopha # Title Security in Casa Grande handled the […]

AIRPARK INDUSTRIAL (MAYBE?) PARCEL SELLS TO INVESTORS

Published on by Matt Herrington

Burris Rd frontage is probably a big deal for future north-south connector to Casa Grande’s burgeoning southern industrial areas, so maybe this parcel quill have some great use someday … for now, it is bereft of infrastructure, and in airport overfly zone May 31, 2022 80ac $600,000 or $7,500/ac Buyer intention unknown

ANOTHER BIG WESTSIDE CG FARM SELLS

Published on by Matt Herrington

May 24, 2022 313.9ac approx (gross 324ac less several exclusions, including an old dump at southwest corner of the property) $9,418,080 or $30,000/ac or 69¢/sf Seller was heirs of Hill family, longtime local farmers Buyer was investment group led by Dale Willis

AND ANOTHER VERMA DOUBLE-ESCROW TO LUCID

Published on by Matt Herrington

Not the first, and certainly not the last time that Lucid is clawing up every acre it can get its hands on around its existing campus May 17, 2022 40ac First sale (Wells to Verma):  $6,533,999 or $3.75/sf Second sale (Verma to Lucid):  $7,500,000 or $4.30/sf Gross (instantaneous) profit to Verma:  $966,001 Lucid continues its site expansion-driven land […]

110.33ac MARICOPA-CASA GRANDE HWY

Published on by Matt Herrington

Decent, but not exceptional piece on the “hot” west of Casa Grande, but north side of the highway, kinda notched into Larry Yount’s Grande Valley Master Plan. May 16, 2022 110.33ac $1,500,000 or $13,596/ac, $300,000 down payment with seller carry Buyer intention unknown Decent, but not exceptional piece on the “hot” west of Casa Grande, but north side […]

BARNES BUYS ANOTHER 80 IN PATH OF INDUSTRIAL PROGRESS

Published on by Matt Herrington

A major seller as well, Vernon Barnes just bought an 80 to go with a 240 he bought earlier this year on the hot westside of Casa Grande. May 13, 2022 80ac farm, PLUS farm residence (Serrano residence) and several ancillary farm buildings $5,014,750 or $1.44/sf (ignoring the valueof the residence) The resulting 320 makes a very […]

VERMALAND STRIKES AGAIN, EXTRACTING …

Published on by Matt Herrington

… another cool mil (actually $865,559, but who’s counting?) in quick “flip” profit out of Casa Grande land.  I guess Casa Grande has been discovered by the fast money. May 6, 2022 50ac SEC Pinal Ave and Val Vista Blvd First sale:  $4,034,941 or $1.85/sf cash Second sale:  $4,900,500 or $2.25/sf cash Buyer intention unknown

ANOTHER $2M FOR KEELING … Q: WHEN DOES IT END?

Published on by Matt Herrington

A:  not for a while – he’s got lots more dirt in the area.  Continuing the amazing run of property sales on Casa Gtande’s industrial west side, here’s a little gem:  20ac that Mr. Keeling paid $315,000 for in December 2020. The parcel is north of a residential subdivision, and adjacent to the east to SONORAN and […]

PICKIN’ UP THE [Tierra Grande] PIECES

Published on by Matt Herrington

We’ve been watching this dance for almost 40 years now.  Following Dick Ungar’s noble attempt at developing a new golf course community in the middle of Pinal County (11 Mile Corner), many many players – including us – have attempted to pick it up and make it better.  All have failed, culminating in Russ Webb’s abortive […]

SMALL WEST SIDE CG MF PARCEL GETS GOOD PRICE

Published on by Matt Herrington

This small MF parcel hung around on the market for 155 days, but things are heating up on that side of town and someone finally saw its value May 3, 2022 SWC McMurray Blvd & Wood St 1.33ac City of Casa Grande R2 (MF) zoning $270,000 or $4.66/sf $47,095 cash dp, seller carry  Buyer intention  unknown

IT’S CALLED A DOUBLE ESCROW, and DOUG KEELING …

Published on by Matt Herrington

… leaves a cool Million on the table.  Doug had it sold to the Verma bunch when Broker Kirk McCarville approached them about selling the parcel to Lucid, which Verma did for a cool, quick mil. May 2, 2022 80ac First sale $8,820,000 or $2.53/sf Second sale (to Lucid) $9,9800,000 or $2.81/sf Watch for more eye-popping wallet-busting […]