By Western Retail Advisors
Phoenix-based retail brokerage specialist Western Retail Advisors has announced the completion of a 20.45-acre, $14.4M land acquisition in San Tan Valley, purchased for the development of a 318-unit apartment project.
Jake McClaughry and Brian Gausden of Western Retail Advisors represented the property buyer, Z Modular, a division of Zekelman Industries. Matt Rinzler of Insight Land and Investments represented the property seller, Diversified Partners.
The San Tan Valley land site sits at the SEC of Gantzel Road and El Parque Lane. It is surrounded by single-family housing and is walkable to major national retailers and restaurants. It is also situated just south of the planned $5.5B LG Energy Solution battery manufacturing complex.
Z Modular plans to self-develop the San Tan Valley community, which will feature its steel-framed, garden-style FLATZ™ apartment design. The project will be built using the company’s offsite manufacturing and on-site general contracting capabilities. Units will be manufactured at its Chandler factory and then transported to the San Tan Valley location for on-site completion.
The Z Modular approach allows developers to expedite construction timelines to meet market demand while maintaining the highest quality standards.
Base4 and STG Design are the project architects.
