D. Hoover & Associates Investments, Inc. has sold a 40-acre development site at the northwest corner to south of the southwest corner of 7th Street and Carefree Highway in Phoenix, Arizona. Kidder Mathews brokers Brian Rosella and Joseph Calistri represented the investment firm in the off-market sale to custom builders Nexstar Homes for $4,000,000.
The site is one of the largest remaining vacant land parcels between North Phoenix and Cave Creek. Large lot developments with spectacular views and proximity to job centers along Interstate 17 make this area highly sought after for residential development.
“The residential market for homes on large lots remains strong in North Phoenix,” said Rosella.
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