Coastland Residential Acquires Development Site In Sweetwater From Procacci Development Corp For $38M

A development site located at 1556 Northwest 110th Avenue in Sweetwater has been sold for $38,000,000. The property spans 343,529 square feet and has a price per square foot of $111. This transaction involved 690 units, resulting in a price per unit of $55,072.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $38,000,000
• Address: 1556 Northwest 110th Avenue, Sweetwater
• Market: Sweetwater

The buyer of the property is Coastland Residential, while the seller is Procacci Development Corp. The deal was facilitated by brokers Brian de la Fe, David Duckworth, John Crotty, Michael Fay, and Wayne Schuchts, who are representatives from Avison Young.