By: Daniel Benson; Belfiore Real Estate Consulting
Two prime Downtown Phoenix parcels sold this week for a combined purchase price of $4,125,000. The first sale closed April 8, 2014 and included an approximate 0.804 acre site (per assessor’s records). The parcel is located at the north east corner of Third and Pierce Streets. The deal (click here to view the affidavit) closed for $1,775,000 ($2,207,711 per acre). The buyer in the transaction was Third and Pierce Development LLC, an entity controlled by Cachet Developments based in Ontario Canada. The Canadian Cachet Developments has no affiliation with locally based Cachet Homes (Matt Cody, Founding Owner).
The second sale closed April 9, 2014 and included an approximate 1.435 acre site (per assessor’s records). The parcel is located at the south west corner of Lewis and Central Avenues. The deal (click here to view the affidavit) closed for $2,350,000 ($1,637,631 per acre). The buyer in the transaction was Deco Edison Central, LLLP, an entity controlled by locally based Deco Communities (Robert Lyles, Patricia Watts & Dan Richards).
