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Fore Property Acquires Mixed-Use Development Site in Downtown Phoenix for $9.3M

366-N-Second-Ave-Phoenix-AZ

Fore Property plans to develop a seven-story, 323-unit mixed-use property, with ground-floor retail and restaurant space, at 366 N. Second Ave. in Phoenix.

PHOENIX — Fore Property has purchased of the former O’Neil Printing facility, located at 366 N. Second Ave. in downtown Phoenix, for $9.3 million. The development site consists of 2.6 acres with three sides of street frontage. The buyer plans to develop a high-end, mixed-use project on the site.

Totaling 285,000 square feet, the seven-story development will feature 323 apartments in a mix of studio, one- and two-bedroom layouts, as well as ground-floor retail and restaurant space, a rooftop deck with views of Phoenix, a pool and fitness center. Construction is slated to begin the first quarter of 2020, with completion scheduled for mid-2022.

Justin Horwitz and Paul Borgesen III of SVN Desert Commercial Advisors represented the buyer in the deal. The name of the seller was not released.

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