Posted Jan 27, 2022, 5:59 PM
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Registered User
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Join Date: Jan 2013
Posts: 2,286
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0.81-acre lot in Downtown Phoenix sells for $3.7M
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Originally Posted by combusean
On the other hand, things that should get torn down include that tacky white law office at 362 N 3rd Ave including the parking and vacant lot to the south. They sold late last month to a decently size Sotheby's broker in Chicago.
I wouldn't normally report of a land transaction but I can dream of Chicago money coming to a decently sized lot.
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Like clockwork! Article describing the sale above.
https://azbigmedia.com/real-estate/0...ells-for-3-7m/
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SVN Desert Commercial Advisors completed the sale of an approximately 0.81 acre lot in Downtown Phoenix on 3rd Ave. between Filmore St. and Van Buren St. in the heart of Downtown Phoenix. The property was acquired from Cole Management Associates, LLC for $3.7 million by 362 North Third, LLC, an entity formed by JRG Capital Partners. JRG, a Chicago-based real estate investment and development firm continues its expansion in the Phoenix market. Chief Investment Officer, Cheri Grossman, stated “This is our second acquisition in Downtown Phoenix, and it fits all the attributes for a high-rise development. With multiple large-scale projects under development, this area of downtown will become a vibrant area to live, work and play”.
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