September 7, 2024 4:44 pm
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American Furniture Warehouse buys 40 acres in Glendale for $9m

American Furniture WarehouseVizzda — A 41.49 acre parcel in Glendale located at the southwest corner of Loop 101 and Bethany Home Rd, opposite of Westgate City Center and Glendale’s stadium and previously planned for a 1.25m square feet mixed-use project called “Bella Villagio,” has been sold by Stearns Bank to American Furniture Warehouse for $9.0m or $4.98 per square foot.

The prior owners, doing business as Stadium Holdings LLC (Nevada), previously acquired this land from the Arizona Department of Transportation (ADOT) on November 16, 2007 for $16.265m or $9.00 per square foot with $15.8m debt with Stearns Bank. The property was noticed for trustee sale November 26, 2008 on the outstanding debt with Stearns.

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Rose Law Group Reporter, which provides Dealmaker’s content and service, is contracted by Rose Law Group. Rose Law Group is a full service real estate and business Law Firm practicing in the areas of land use/entitlements, real estate transactions, real estate due diligence/project management, special districts, tax law, water law, business litigation, corporate formation, intellectual property, asset protection, data breach/privacy law, ADA compliance, estate planning, family law, cyber-law, online reputation and defamation, lobbying, energy and renewable energy, tax credits/financing, employment law, Native American law, equine law, DUIs, and medical marijuana, among others. The views expressed above are not necessarily those of Rose Law Group pc or its associates and are in no way legal advice. This blog should be used for informational purposes only. It does not create an attorney-client relationship with any reader and should not be construed as legal advice. If you need legal advice, please contact an attorney in your community who can assess the specifics of your situation.