MARANA, AZ (April 12, 2024) — Velocity Retail Group LLC is delighted to announce the sale on April 3, 2024, of the 14-acre Heritage Park industrial progress internet site, located at the southeast corner of Tangerine Highway & Lon Adams Highway, Marana, AZ, for $3,800,000 ($6.23/SF). Brian Harpel and Eli Castronova of Velocity Retail Team LLC brokered the transaction.
The internet site sits throughout from the Gladden Farms Market, which is currently under building and will include a new Fry’s Marketplace, expected to open in 3Q 2024. The Gladden Farms Grasp Prepared Community surrounds the residence and kinds a portion of the speedily building Tangerine Street professional corridor.
The Seller, HOH Land Holdings LLC (Waseem Hamadeh), is a remarkably successful real estate expense firm. The Purchaser, an entity of Rio West Advancement & Design (Walter and Brad Hoge), has an exceptional observe report with a 30-12 months accomplished venture history throughout all business sectors in the Tucson metro location. They will go on building the home into the “Heritage Park Commercial Center” job. The challenge includes nine retail frontage pads and two mixed-use pads in the inside. Multiple nationwide tenants are negotiating to participate in the progress, and added pads are also offered.
“The purchaser and seller are hugely competent serious estate firms, and we are delighted to support them arrive together to total the subject matter transaction that was a get/acquire for each,” commented Eli Castronova, who, together with Brian Harpel, is excited to stay on board to carry on promoting the pads for Rio West.
For more info about the Heritage Park Commercial Heart venture, get in touch with Harpel at 520.909.8505 or Castronova at 602.999.5425.
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