CBRE Facilitates Sale Of Arrowhead Ranch Business Park In Peoria, AZ For $12.68M To California-based Buyer In 1031 Exchange

The Arrowhead Ranch Business Park in Peoria, Arizona, has been sold in a transaction facilitated by CBRE. The mixed-use property, spanning 9.56 acres, is located at 21461-21509 North 78th Avenue. The sale price for this property was $12,680,000, which translates to a price per square foot of $254. This transaction took place as part of a 1031 exchange, with a California-based private buyer acquiring the property.

Summary of transaction details:

• Property Type: Mixed-use
• Transaction Amount: $12,680,000
• Address: 21461-21509 North 78th Avenue, Peoria, AZ
• Market: Peoria, AZ
• Acres: 9.56
• Broker: CBRE
• Seller: Russell Fraser - Pacifica Real Estate Group
• Brokers' Representatives: Anthony DeLorenzo, Evan Koplan, Gary Cornish, Geoffrey Turbow, Nick Williams & Serena Wedlich

CBRE played a key role in facilitating the sale of the Arrowhead Ranch Business Park. The property was acquired by a California-based private buyer, marking an important transaction in the real estate market. The involvement of Russell Fraser from Pacifica Real Estate Group as the seller, along with the multiple brokers from CBRE, demonstrates the collaborative efforts of industry professionals in executing this deal.