7.2-acre commercial land parcel in Buckeye sold for $2,350,000 within 3 months

By Rose Law Group Reporter

BUCKEYE, AZ – a 7.2 Acre commercial land parcel located off of Interstate 10 and Miller Road, traded
this past week for $2,350,000 or $7.47 per square foot. Nick Miner, CCIM and J.T. Taylor of ORION
Investment Real Estate represented the Seller entity, Schmitzer Family Trust, while Samil Lallian of
HomeSmart represented the Buyer, Verma Land. Miner & Taylor of ORION took the property from
open to close in just 3 months, garnering multiple interested parties along the way. Verma Land
was selected as the Buyer because they were the most aggressive on price and timing.

This commercial land is zoned GC, permitting a wide range of commercial goods and services to the
entire region. This offering of over 7.2 acres allows for many options and possibilities for the Buyer.
Development readiness includes Miller Road improvements, easements, nearby traffic signals, and
more. The commercial land site is located on the southeast corner of Pima and Miller Road in
Buckeye, which is one of America’s fastest growing cities in the U.S. The population was estimated
at 68,453 in 2017. In May 2019, population estimates released by the U.S. Census Bureau placed
Buckeye as the fastest growing city in the U.S. by percentage from 2017-2018, growing by 8.5%.

Nick Miner, CCIM commented on the transaction, “We have been working with the seller on this
land site for some time while the area matured. With the recent momentum from all the new
developments in the area and the announcement of 5 Below being developed on the SWC of Miller
& Durango, that was the true tipping point to seal the area as an emerging development area.”

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June 2021