THE OPPORTUNITY

In November 2021, Shopoff acquired 54 acres of vacant land in Buckeye, Arizona, approximately 30 miles southwest of Downtown Phoenix. This property was purchased for $6.5 million in a joint venture with Contour Real Estate.

The site is positioned within close proximity to both State Route 85 and Interstate 10, and immediately adjacent to the Union Pacific Rail Line, providing the property with direct rail capabilities. There is an existing Wal-Mart distribution center just to the west of the property, and a proposed Ross Dress for Less warehouse distribution center planned for the property adjacent to the site.

HOW SHOPOFF IS ADDING VALUE

Upon acquisition, Shopoff worked on securing the necessary approvals for future industrial development. The firm secured approval for annexation to the City of Buckeye in July 2022 and thus obtained project approvals through the City Planning Department. The Buckeye Planning Commission approved the zoning change to light industrial and subsequently granted unanimous consent by the Buckeye City Council in early 2023.

The Partnership is actively marketing the site through a land broker, with ongoing discussions underway with several prospective users. The Partnership is also evaluating both ground lease and fee simple sale opportunities.

Disclosures

An investment in a Shopoff fund involves a high degree of risk, including the possible loss of your entire investment, and is illiquid with an uncertain liquidity date. This material does not constitute an offer to sell or a solicitation of an offer to buy any security. Securities offered through Shopoff Securities, Inc. Member FINRA/SIPC.

These properties are one of a number of properties that are managed by Shopoff Realty Investments, and owned by open and closed investment funds. For the listing of all Shopoff’s current holdings visit: https://www.shopoff.com/current-assets/