More than 220 acres of land sold in Casa Grande

Land that was part of the proposed 2,000-acre Coyote Springs master plan in Casa Grande was sold in two transactions this week. The largest deal involved nearly 189 acres of land along the south side of Jimmie Kerr Boulevard. Prominent Arizona State University athletics supporter and long-time local farmer Charles “Nap” Lawrence formed a partnership that paid $1.16 million for the property, or $6,200 per acre. It will return to farmland. “Nap has been in Pinal County longer than anyone I know,” said Mike Ratliff, one of the brokers involved in the deal. “He’ll farm it until the market recovers.” Ratliff joined Land Services Group team members Dave Headstream and Jason Hyams in handling the transaction. In a separate deal involving nearby land, Xiao Yun Bi of Newport Beach, Calif., as representative for Az Outlet LLC, purchased 34 commercially zoned acres. That land is just west of the Tanger Outlet Mall. It sold for $757,800, or $22,500 per acre. Don Allison of Trident Real Estate in Phoenix represented the buyer. “My understanding is that they’re going to create a warehouse facility for storage purposes that would support the mall,” Ratliff said. In both transactions, the Land Service Group represented the seller, Scottsdale-based BNC National Bank. Both properties had been taken back by the bank following loan defaults.

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