In the City of Maricopa, Land Advisors Organization successfully facilitated the sale of two adjacent land parcels. These parcels are expected to bring 431 new multifamily residential units to one of the nation’s fastest-growing cities. According to recent data from the U.S. Census Bureau, Maricopa is ranked as the fifth fastest-growing large city in America.
The two parcels are situated at Porter Road and Maricopa-Casa Grande Highway on its northwest corner. One parcel measuring over 19 acres was purchased by Dominium for $8.3 million with plans to develop a 215-unit multifamily community on it while Roers Companies acquired an adjacent parcel measuring 9.5 acres for $4.l million and intends to construct a new horizontal apartment community consisting of 216 units.
These upcoming communities will be located along the frontage of Maricopa-Casa Grande Highway, where Home Depot recently opened in September and more retail developments are planned for this area as well.
Land Advisors Organization’s team members Ryan Semro, Bret Rinehart, Ben Heglie, and Ryan Garlick represented Stonegate -the seller- in both transactions mentioned above.
Maricopa continues attracting developers’ interest as these two multifamily projects demonstrate its potential growth opportunities.
