By AZRE | AZ Big Media
The Mangat Group, a Glendale-based land development group, has invested nearly $35 million in land purchases in the last six months, and currently owns roughly 1,000 acres throughout the Phoenix-metro area. They most recently purchased a parcel of land in Buckeye valued at $2.5 million at the beginning of March, and by the end of the month, that same piece of land was in escrow for $5.6 million.
“Land value in Arizona is increasing exponentially,” says Tony Mangat, founder of The Mangat Group. “We purchased a plot of land in Peoria for $180,000 a few years ago, which is now valued at $4 million.”
Mangat, a serial entrepreneur, founded The Mangat Group after immigrating to the U.S. from Punjab, India with only $20 in his pocket. Mangat and his team are a small yet fast-growing group who purchase and develop property primarily in the West Valley.