April 19, 2024 10:38 pm
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Magic Lake, Lookout Mountain and what one Arizona land deal shows about the real estate market

By Mike Sunnucks | Phoenix Business Journal

Ohio-based Magic Lake 80 LLC has sold 52 acres of land in Pinal County south of Phoenix to Scottsdale-based Lookout Mountain Partners.

The land is off Hunt Highway and Heritage Road south of Queen Creek.

Lookout Mountain bought the Pinal land for $1.25 million.

The Scottsdale group plans to get the acreage zoned and ready for housing development and will then sell off lots and parcels to homebuilders.

Pinal County is roughly an hour south of downtown Phoenix and was hit very hard by the last real estate crash and recession.

(Subscriber content)

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© 2024 Rose Law Group Reporter

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.