D.R. Horton buys in N. Phoenix

(Photo via D.R. Horton)

By AZRE | AZ Big Media

Long-time commercial real estate executive, Neil Sherman with Sperry Commercial-Insignia CRE has recently sold land off I-17 and Dynamite Road. Sherman and his co-listing agent, Ian Turner sold 10.48 acres for $3,775.000.

The property is located at 28201 N Black Canyon Highway, totaling 456,508 square feet of land. Sperry-Insignia represented the seller, Fortress RV Storage, LLC in the sale transaction. The out-of-state buyer DHIC – Black Canyon, LLC is a division of DR Horton located in Arlington, Texas. Michael Trueman is DR Horton’s man in Phoenix and was represented by Michael Lieb of Cherokee Development. The sale was in escrow for approximately one year given there were some rezoning and entitlement issues that had to be handled. The vacant single-family structures will now be redevelopment into a multifamily property.

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