AZBigMedia
Lennar Multifamily Communities (LMC) of Charlotte, NC has acquired two office buildings situated on a total of 4.17 acres within the Kierland development in Phoenix. The company plans to demolish the two Class “A” office buildings and construct a luxury apartment community on the site.
“It is unusual for the sale of two high-quality office buildings to result in demolition,” says Greg Hopley, executive vice president of Colliers International in Greater Phoenix, who brokered the sale. “This is indicative of the premium being placed on well-located multifamily sites during this very robust cycle of apartment development here in the valley of the sun.”
