Ironline Partners, a real estate investment, development, and management company, has sold a 53.75-acre development site located near the southwest corner of Highway 87 and Tyler Parkway in Payson, Arizona, for $2,775,000. Kidder Mathews Senior Vice President Brian Rosella represented the seller in the transaction. The buyer was Iron Rings Holdings, LLC, a subsidiary of Virtua Partners, a national commercial real estate developer specializing in land development, hospitality, and multifamily.
“The property was one of the few remaining large pieces of property in Payson, which has been underserved regarding new development. The buyer is still early in the planning process, but the development may include retail, multifamily, and single-family communities,” said Rosella.
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Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with 900 real estate professionals and staff in 20 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 $10.9 billion in transactions, manages 52 million square feet of space, and conducts over 2,600 appraisals annually. For more information, visit kidder.com.