Shopoff Realty Investments and Contour Real Estate Acquire 54 Acres of Land in Buckeye, AZ for Ground-Up Industrial Development
BUCKEYE, Ariz., Dec. 2, 2021
BUCKEYE, Ariz., Dec. 2, 2021 /PRNewswire/ -- Shopoff Realty Investments ("Shopoff"), a national manager of opportunistic and value-add real estate investments, and Contour, a leading privately-held real estate and development company, announced today that they have acquired 54 acres of land in the city of Buckeye, Arizona, a submarket of Phoenix. The joint-venture partners will plan to develop the site for warehouse logistics uses.
The proposed plan will consist of two warehouse logistics-oriented buildings spread across approximately 900,000 square feet.
"The Phoenix West market is a prime location for industrial development, with convenient access to I-85 and I-10, the property is a one-day drive to the Port of Los Angeles," explained Shopoff President and CEO, William Shopoff. "With an influx of e-commerce and logistics firms moving into this area in recent years the demand for industrial space continues to grow, and we believe we are well positioned for a successful development."
Located at the southeast corner of Southern Avenue and Rainbow Road, the property is immediately adjacent to the Union Pacific Rail Line providing even greater access and the potential for direct rail capabilities.
David Daneshforooz, chief executive officer of Contour added, "We are excited to be a part of the explosive growth in the Southwest valley, which we are confident will continue over the next decade as more and more development continues in the area."
About Shopoff Realty Investments
Shopoff Realty Investments is an Irvine, California-based real estate firm with a 29-year history of value-add and opportunistic investing across the United States. The company primarily focuses on proactively generating appreciation through the repositioning of commercial income-producing properties and the entitlement of land assets. The 29-year history includes operating as Asset Recovery Fund, Eastbridge Partners and Shopoff Realty Investments (formerly known as The Shopoff Group). Performance has varied in this time frame, with certain offerings generating losses. For additional information, please visit www.Shopoff.com or call (844) 4-SHOPOFF.
This is not an offering to buy or sell any securities. Such offer may only be made through the offerings memorandum to qualified purchasers. Any investment in Shopoff Realty Investments programs involves substantial risks and is suitable only for investors who have no need for liquidity and who can bear the loss of their entire investment. There is no assurance that any strategy will succeed to meet its investment objectives. The performance of this asset is not indicative of future results of other assets. Securities offered through Shopoff Securities, Inc. member FINRA/SIPC, 2 Park Plaza, Suite 770, Irvine, CA 92614, (844) 4-SHOPOFF.
Contour is a privately-owned commercial real estate investment and development company formed in 2018 as the vertical development arm of a family-owned land-trade business established in 1987. The company is a vertically integrated opportunistic real estate firm that develops, owns and operates property throughout the United States. Contour's decisions are guided by market-leading research and a commitment to precise execution while remaining entrepreneurial in its approach to opportunity. Contour's executive management team has over 60 years of experience spanning more than 75 million square feet and $36 billion across all asset classes. Contour's California office is located at 3200 Park Center Drive, Suite 1240 Costa Mesa, CA 92626. For more information about the company, its team and its work, visit www.Contourre.com.
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SOURCE Shopoff Realty Investments