A subsidiary of Petrus Partners LTD in New York — Encanto 2020, LLC — has purchased 38 acres of land in Buckeye, Arizona for $2.4 million. Kidder Mathews Vice President Brian Rosella represented the seller, Mike Geddes with Jackencanto, LLC, in the transaction.
Development plans for the property, located at Jackrabbit Trail & Encanto Boulevard, include 103 residential lots and five acres of commercial space.
“The residential land market is still on fire as developers and builders are looking in all parts of the valley for more land to feed the continued influx of new residents moving to Phoenix,” said Rosella.
About Kidder Mathews
Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 21 offices in Washington, Oregon, California, Nevada, and Arizona. Kidder Mathews offers a complete range of brokerage, appraisal, asset services, consulting, project and construction management, and debt & equity finance services for all property types. The firm performs $8 billion in transactions, manages 70 million square feet of space, and conducts over 1,800 appraisals annually. For more information, visit kidder.com.