April 23, 2024 12:48 am
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Rastegar Property buys high-profile Phoenix lot for high-rise development

AZBigMedia

AZBigMedia

Rastegar Property, a vertically-integrated real estate investment firm focused on value-add and development in all asset classes across the United States, today announced its acquisition of a prominently-located high-rise lot in Downtown Phoenix in anticipation of the city’s rapidly growing demand for residential and commercial real estate space.

Located at 334 N. 4th Ave., the 26,500+ square foot high-rise lot is near many employers, higher education campuses, retail spaces including shops, restaurants and bars, and entertainment venues. The lot’s zoning allows for 550 feet of vertical development, and Rastegar Property plans to use the lot to develop a multifamily high-rise residential complex with office and retail components.

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