Marty Derito Of De Rito Partners Purchases 130 Acres In Phoenix For $67.38 Million
Southwest Corner Of Interstate 17 And Carefree Highway
$67,376,129
Building Size
—
Asset Type
Land
Closing
Sep 29, 2026
About this deal
AI
De Rito Partners acquired 130 acres of land located at the southwest corner of Interstate 17 and Carefree Highway in Phoenix, AZ, for $67,376,129. The acquisition is intended for the development of an 11-lot auto mall.
Summary of transaction details:
- Property Type: Land
- Transaction Amount: $67,376,129
- Buyer: Marty Derito - De Rito Partners
- Seller: Richard Mack - Mack Real Estate Group
- Market: Phoenix, AZ
- Acres: 130
The deal includes plans for eight dealership lots that are already committed, with the expectation that the first dealerships will open in 2028. Richard Mack represented the seller, Mack Real Estate Group, during this transaction.
On the Map
$67,376,129
Land
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.24%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93