Phoenix Commercial Advisors announced the closing of 20.9 acres of land in Laveen Village, Ariz. The property, located south of the southwest corner of Loop 202 freeway and Baseline Road, sold for $10,000,000.

The land was zoned and entitled for multifamily with the preliminary site plan approved with elevations for around 528 units. Dan Gardiner, Steven Underwood and Greg Laing at Phoenix Commercial Advisors represented the seller, Kitchell, in the transaction. The buyer was Roers Commercial Development. Phoenix Commercial Advisors is marketing 12.49 acres to the north directly adjacent to land recently purchased by Banner Health with prospects for a new hospital campus.