November 17, 2024 8:45 am
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National apartment developer buys prime Scottsdale Road land

The property was previously home to Luxor Auto Group
The property was previously home to Luxor Auto Group

By Mike Sunnucks | Phoenix Business Journal

National apartment developer Wood Partners is buying a prime Scottsdale parcel for a planned apartment complex, according to a report by Business Real Estate Weekly of Arizona.

BREW is reporting that Wood is buying a 4.8-acre site at 3220 N. Scottsdale Road and is planning 277 apartments.

The property was previously home to Luxor Auto Group. That car dealership was raided by federal agents in 2014. Dealership owners were charged with money laundering but most of their charges were eventually dropped, according to an Arizona Republic report.

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