SALE IMAGE: Michael Arougheti & Ben D

A 42-acre vacant industrial site located at the southeast corner of 7th Avenue and Happy Valley Road in Deer Valley, AZ, has been sold for $45,629,174. The property encompasses a total square footage of 1,829,520, which equates to a price per square foot of $25. Significant groundwork will be required before the development can commence due to the current condition of the site.

Summary of transaction details:

• Property Type: Land
• Transaction Amount: $45,629,174
• Address: Southeast corner of 7th Avenue and Happy Valley Road
• Market: Deer Valley, AZ
• Acres: 42
• Buyer: Michael Arougheti - Ares Real Estate
• Buyer: Ben D. Westra - JCW Development
• SF: 1,829,520
• PPSF: $25

Michael Arougheti of Ares Real Estate and Ben D. Westra of JCW Development were key figures in this transaction, representing their respective companies in the acquisition of the site. This purchase aligns with the rising industrial demand influenced by TSMC’s expanding semiconductor campus in the area.