12,081 acres of land in far West Valley sells for $142.5M

12,081 acres of land in far West Valley sells for $142.5M

Article Originally Posted By AZBigMedia On March 29, 2022

The recent sale of 12,081 acres of land in the far West Valley to BA Pacific Sun Valley LLC was handled by Burch & Cracchiolo president Andy Abraham. The sales price of the land, which is near Sun Valley Parkway and the Loop 303 west of the White Tank Mountains, was $142.54 million.

Abraham represented the group purchasing the property that includes Levine Investments Limited Partnership, Andrew Cohn and Gary Tharaldson. The seller was WVSV Holdings, an entity affiliated with Conley Wolfswinkel of W Holdings based in Tempe.

“This was a deal several years in the making as it went through long court proceedings” comments Abraham. This property is considered a prime location in the future development of the West Valley. The group who has purchased the land has not divulged exact plans or a timetable for development at this juncture. The location near White Tank Regional Park and Douglas Ranch presents a myriad of options for its best use. 

Levine Investments and Cohn have significant real estate holdings in the Valley including the State Farm Campus in Marina Heights in Tempe and Uptown Plaza at Central and Camelback Roads in Phoenix. Abraham also worked on the acquisition of those projects in 2017 and 2019 , respectively.