FOR IMMEDIATE RELEASE – October 28, 2014
Vestis Group Brokers Multifamily Land Sale In Downtown Tempe Near ASU
(Phoenix – October 28, 2014) – Vestis Group is pleased to announce that brokers Natan Jacobs, Les Litwin and Victoria Miachika have completed the sale of 1.00 Acres of R-3 Zoned Tempe multifamily land, located just north of University Drive, approximately one mile west of Arizona State University in Downtown Tempe, Arizona for $835,000 / $19.17 Per Square Foot.
5th And Hardy LP, an award-winning Canadian multifamily developer, acquired the 1.00 acre parcel located on the northwest corner of 5th Street and Hardy Drive, in Downtown Tempe for $835,000. The site enjoys a superior downtown Tempe location with direct access to all areas of the Phoenix Valley by way of the Red Mountain Freeway (Loop 202), the Pima Freeway (Loop 101), and the nearby Valley Metro Light Rail Transit System. In addition, there are numerous dining and entertainment options in close proximity to the property, including Tempe Marketplace, one of the most popular shopping centers in the Phoenix Metro with 1.3 million square feet of retail space. Significant employers in close proximity to the property include Arizona State University, General Dynamics, U.S. Airways, Amazon, Microsoft, and First Solar. The seller in the transaction was Alfred, Lynn and Pamela Brownd of Scottsdale, Arizona. The vacant single family home existing on the site is slated to be razed to make way for 20 contemporary urban townhomes.
About Vestis Group | Phoenix Condo Kings
Vestis Group provides unparalleled service and expertise to both Buyers and Sellers in Arizona’s most sought after neighborhoods, including Arcadia, Biltmore, Camelback Corridor, North Central Phoenix, Downtown Phoenix, Midtown Phoenix, Phoenix Historic Districts, Old Town, Scottsdale, Paradise Valley, Fountain Hills, Tempe, Mill Avenue and Lake District, and Tempe Near ASU. Representing residential property sales throughout Maricopa County including luxury condominiums, lofts, condos, townhomes, single-family homes and investment real estate, Vestis Group is dedicated to the highest standards of professionalism, expertise and client satisfaction.
Vestis Group’s principals, Natan Jacobs and Les Litwin, have sold over 5,600 condos in the Metropolitan Phoenix market, totaling over $295 million in Arizona real estate transactions and have developed, built, rehabilitated, constructed, improved, managed and sold thousands of apartments, condos, homes and home sites.
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