Staff Reports | Business & Construction
A 29-acre land parcel at the southeast corner of Felix Road and Arizona Farms Road in Florence has sold for $4.7 million. Kidder Mathews Senior Vice President Brian Rosella represented the sellers, Aspen Nevada SPE LLC and Dolores Darnold, in the transaction.
The buyer is Entitlements, LLC.
The property is located south of metro Phoenix’s San Tan Valley submarket, an area seeing continued residential and commercial development. The planned Florence Tech Park, slated for the west side of Felix Road, is expected to bring additional employment opportunities to the area and could influence future development near the site, according to a press release.
“This transaction highlights the continued growth across metro Phoenix,” Mr. Rosella said. “Investors and developers remain confident in the long-term residential and employment expansion occurring throughout the Southeast Valley.”
The Florence area has experienced steady population increases and ongoing development planning, with continued interest from homebuilders and investors due to its location within a growing regional corridor.
